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US may cut India tariffs by 25%, hints Trump aide, says 'Russian oil purchases have collapsed'
Treasury Secretary Scott Bessent during an interview claimed that refineries in India have significantly cut down on the purchase of Russian oil.
Amid ongoing trade negotiations between India and the US, a key official in the Donald Trump-led administration has hinted that the administration may consider lowering the existing 50% tariffs on imports from New Delhi by half.
Treasury Secretary Scott Bessent during an interview claimed that refineries in India have significantly cut down on the purchase of Russian oil, an issue which was cited as reason for the US doubling tariffs on India back in August last year.
“We put 25% tariffs on India for buying Russian oil. And the Indian purchases, by their refineries, of Russian oil have collapsed. That is a success,” Bessent said in an interview with Politico posted on Friday.
He further acknowledged that the tariffs on India remain imposed but hinted that the US admin may take them off. “The tariffs are still on. I would imagine there is a path to take them off,” Bessent said.
In August 2025, when Trump was on a tariff slapping spree for many countries, he had doubled the duties on Indian imports to 50%, a move he attributed to India's energy ties with Russia.
Bessent's statement also indicates that the India-US trade talks may be making some headway, a contrast from what US commerce secretary Howard Lutnick recently said.
In a podcast interview, Lutnick had said that a potential deal between the two countries had fallen through because Prime Minister Narendra Modi “didn't call” Donald Trump. However, India was quick to reject the assertions. Hope also re-emerged after the new US ambassador to India, Sergio Gor, confirmed that negotiations on trade between the countries were still underway.
Is the India-Russia oil trade over?
While Bessent's latest remarks hint at the possibility for lower US tariffs for India, they also spark speculation on where does the India-Russia energy trade stands. Bessent is not the first US leader to have claimed that New Delhi has lowered its oil trade with Moscow.
Trump first made a similar claim back in November, saying India has "largely stopped" the purchase of Russian oil. "They (trade talks with India) are going good, he stopped buying oil from Russia largely. He (PM Modi) is a friend of mine, and we speak and he wants me to go there. We will figure that out, I will go...," Trump had said.
However, India has officially never confirmed these positions. In fact, after Trump claimed in October 2025 that PM Modi had “assured” him that India would stop its oil trade with Russia, New Delhi had dismissed the assertion, saying no such conversation took place.
