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US President Donald Trump said on Thursday that his punitive tariffs on India were designed to pressure Russian president Vladimir Putin into Ukraine negotiations by cutting off Moscow\u2019s oil revenue \u2013 and suggested the approach was working \u2013 ahead of a crucial meeting on Friday between the American and Russian leaders.
His comments came as US treasury secretary Scott Bessent warned penalties could increase further if talks with Putin fail.
When asked during a Fox News podcast interview whether his threat of additional sanctions prompted Russia to seek talks that are scheduled for Friday in Alaska, Trump cited the punitive tariffs on India as being one of the factors for bringing Moscow to the negotiations.
\u201cI think everything has an impact. [For instance], when I told India and which essentially took them out of buying oil from Russia, that we\u2019re going to charge you more because you\u2019re dealing with Russia and oil purchases\u2026 India was the second largest and getting pretty close to China. China is the largest,\u201d Trump said.
Trump suggested similar action against China \u2014 Russia\u2019s largest oil buyer \u2014 was being prepared, and such a scenario further prodded the Kremlin: \u201c\u2026When you lose your second largest customer and you\u2019re probably going to lose your first, largest customer, I think that probably has a role.\u201d
Earlier, treasury secretary Scott Bessent separately warned that the 50% tariff rate on India could increase if the Putin talks \u201cdon\u2019t go well,\u201d underscoring how New Delhi has become caught in Washington\u2019s pressure campaign against Moscow.
\u201cI could see, if things don\u2019t go well, then sanctions or secondary tariffs could go up,\u201d Bessent told Bloomberg on Wednesday.
Trump imposed tariffs totalling 50% on India earlier this month, including a 25% reciprocal tariff and an additional 25% penalty for Russian oil purchases set to take effect on August 27. Bessent emphasised the tactical nature of the approach, saying \u201csanctions can go up, they can be loosened. They can have a definitive life. They can go on indefinitely.\u201d
Bessent mentioned targeting Russia\u2019s \u201cshadow fleet of ships around the world\u201d and pressed European allies to impose their own secondary sanctions.
\u201cIt\u2019s put up or shut up time. The President is creating his own leverage,\u201d Bessent said.
India has otherwise called the US tariffs \u201cunjustified and unreasonable.\u201d India has been one of the largest buyers of Russian crude since the West imposed sanctions over the invasion of Ukraine in February 2022. India has defended its purchases and criticised the US and the EU for singling it out at a time when other countries buying Russian energy have not faced US penalties.<\/p>\n