US Treasury Secretary Seeks 'More Tariffs' On Buyers Of Russian Oil

After US President Donald Trump plans to impose additional sanctions on Russia in response to the ongoing conflict in Ukraine, US Treasury Secretary Scott Bessent called for the US and Europe to exert additional economic pressure, claiming that it will collapse the Russian economy. The US Treasury chief hinted at more tariffs on countries buying Russian oil, which includes India, saying it could force President Vladimir Putin to go ahead with peace talks with Ukraine.

US Treasury Chief supports Trump's additional tariff on Russia

"If the US and the (European Union) can come in, do more sanctions, secondary tariffs on the countries that buy Russian oil, the Russian economy will be in full collapse, and that will bring President Putin to the table," news agency Reuters quoted Bessent as saying on NBC's Meet the Press.

Bessent vouched for the Trump administration and European partners to end the Russia-Ukraine conflict. "We need our European partners to follow us, because if the US and the EU do this together, we are in a race now between how long can the Ukrainian military hold up versus how long can the Russian economy hold up?" he added.