The Russian economy will “collapse” if Washington and the European Union impose additional secondary sanctions on nations who purchase crude oil from Moscow, according to US Treasury Secretary Scott Bessent on Sunday.
In an interview with NBC News, Scott Bessent stated that President Donald Trump and Vice President J D Vance had a very fruitful call with Ursula von der Leyen, the president of the European Commission, who called him again on Friday. They talked about what the US and EU could do to increase pressure on Russia.
We are currently engaged in a competition to see how long the Russian economy can endure against how long the Ukrainian military can endure,” Bessent stated.
He stated that “if the US and the EU 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 (Vladimir) Putin to the table” .
According to Trump, he is “very disappointed” that India would purchase “so much” Russian oil.
We imposed an extremely high tariff of fifty percent on India. Prime Minister Narendra Modi and I have an excellent relationship. Trump remarked in the Oval Office on Friday, “He was here a couple of months ago.”
As relations between the two nations continue to deteriorate in what may be the worst phase in more than 20 years, the president was asked if he was prepared to start over with India.
Bessent and trade adviser Peter Navarro are among the Trump administration officials who have claimed that India’s imports of Russian oil are helping to fund Russia’s war effort in Ukraine.
The United States’ tariffs have been deemed “unjustified and unreasonable” by India.
India has been defending its purchase of Russian crude oil by arguing that market forces and national interest dictate its energy procurement.
