US Treasury Secretary Scott Bessent has stated that India is profiting from reselling Russian oil, generating billions in revenue. In an interview with CNBC, Bessent explained that India is purchasing Russian oil and then reselling it. He indicated that India has made $16 billion (1600 crore rupees) in profit by selling Russian oil. Bessent also addressed the US tariffs on India, justifying them, and explained why China has not been penalized. Before the Ukraine war, less than 1% of India’s oil came from Russia, but that figure has now surged to 42%. He described this as unacceptable opportunistic arbitrage. Bessent defended the decision, stating that China was not penalized because it imported less oil from Russia than India. Prior to the Ukraine war, 13% of China’s oil came from Russia, which has now risen to 16%.
US Treasury Secretary Accuses India of Profiteering from Russian Oil
By News Analysis India1 Min Read