Tuesday, 02 January 2024 12:17 GMT

US Treasury Secretary accuses India, China for ongoing Ukraine’s war


(MENAFN) US Treasury Secretary Scott Bessent has accused India and China of being the “real culprits” behind the ongoing war in Ukraine due to their continued purchases of Russian oil.

In an interview with a news agency on Thursday, Bessent criticized the Asian powers, stating, “We were doing a lot on Russia. But the real culprits here have been China and India in terms of buying Russian oil. They’re keeping the Russian war machine going.”

Since the escalation of the Ukraine conflict in 2022, Russia has become a major oil supplier to India, while China remains the world’s largest importer of Russian crude.

The Trump administration has imposed 50% tariffs on most imports from India, which include a 25% penalty specifically linked to India’s purchases of Russian oil and defense equipment. No penalties have been applied to China, but trade relations between Washington and Beijing remain strained, particularly after China tightened restrictions on rare-earth mineral exports to the US ahead of anticipated talks between President Xi Jinping and Donald Trump later this month.

Bessent also suggested that punitive measures could shift global energy flows: “The world will soon see a rebalancing where India will buy more American oil. And if we were to do the same thing on China, I think the war would end quickly, but we need our NATO or European allies to join us.”

His remarks follow similar statements from other US officials targeting India. In September, Commerce Secretary Howard Lutnick argued that India would eventually yield to US pressure on tariffs, warning that New Delhi cannot defy Washington indefinitely.

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