From mint · Livemint · · 1m 40s
Why US Shouldn't Bear Burden Alone
US Treasury chief says Europe refused tariffs on India and China over Russia.
In brief
US Treasury chief says Europe refused tariffs on India and China over Russia. US Treasury Secretary Scott Bessent claims European countries rejected joint tariffs on India and China for buying Russian oil, questioning why the US should shoulder economic pressure on Russia alone. Originally reported by mint.
US Treasury Chief Claims
US Treasury Secretary Scott Bessent says European countries refused Washington's request to impose secondary tariffs on India and China for purchasing Russian oil.
Europe Refused Joint Action
Bessent stated European allies declined to join the US in applying tariffs on countries importing Russian energy during spring 2026.
Tariff Request Details
The Trump administration sought joint action against India and China for buying Russian oil under the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026.
Bessent's Question
Bessent questioned why the US should bear the economic burden of pressuring Moscow alone after Europe refused to join.
Ukraine War Context
Bessent mentioned President Trump wants the fighting in Ukraine to stop and the Graham bill gives 60 days for assessment before further action.
Energy Purchase Data
In the first 6 months of 2026, 140 cargoes left Russia with 136 going to Europe for over USD 8 billion.
European Energy Purchases
Bessent criticized European countries for continuing to buy Russian energy while supporting Ukraine in its war against Russia.
US Energy Policy
The Graham bill allows up to 100 percent tariffs on goods from top Russian oil importers including India and China.
Marco Rubio's View
US Secretary of State Marco Rubio called India an important ally and said Washington needs to consider energy requirements before tariffs.
The main idea
US Treasury Secretary Scott Bessent claims European countries rejected joint tariffs on India and China for buying Russian oil, questioning why the US should shoulder economic pressure on Russia alone.
