US efforts to impose stringent secondary ban on India and China to buy crude oil from Russia at discount rates have suffered a major setback. US President Donald Trump's Treasury Secretary Scott Besant has made a shocking revelation during an interview. US was appealing to European countries to ban India and China; But, the European allies refused it outright. As a result, the Trump administration also had to decide to suspend these bans for 60 days. Speaking in the 'Meet the Press' program of American news channel 'NBC', Finance Minister Besant expressed strong displeasure over the double attitude of European countries.
“Why should America alone bear the burden?”
Scott Besant Taking aim at Europe's role, Treasury Secretary Besant said, “We have asked our European partners to impose sanctions on India and China, which buy Russian oil, but they have flatly refused. So why should America bear the burden alone? President Trump will keep talking to Europe, but America will not do it alone and will not suffer the consequences.” Besant reminded that European countries themselves had lifted the ban on Russian diesel and jet fuel in May.
Accused of providing logistics for war in Ukraine
He made a scathing accusation, saying, “Europe has given more money to Russia and Vladimir Putin than it has given to Ukraine. They are still openly using Russian energy to fund the Russian war machine. The US imports only $4 billion of Russian goods (including $1.8 billion of fertilizer), while Europe imports 10 times that much.”
Ban suspended for 60 days; Focus on global economy
The US has temporarily suspended the extra tariff and Russian ban imposed on India and other countries for 60 days. US Secretary of State Marco Rubio and Treasury Secretary Scott Besant said that the 'Graham Act' gives the President the right to give leeway to assess the situation. Trump's executive order is only a temporary 60-day exemption and does not lift the ban permanently.
Secretary of State Marco Rubio's visit to India
Speaking to reporters before leaving for a 6-day visit to India and Uzbekistan, Rubio said, “The President has given this 60-day window to see what impact these bans and tariffs have on the global and American economy.” He said that global energy supply is already under pressure due to Iran tension, Houthi attacks on Saudi Arabia and Russia-Ukraine conflict.
Trump's decision will have a deep impact on domestic politics
Speaking from the Mar-a-Lago resort, President Trump defended his decision, claiming it would be beneficial for America and the world. However, it has been criticized by lawmakers from both the Republican and Democratic parties in the United States. Indian-American MP Ami Bera has said that Trump's decision is a relief for Putin and has put Ukraine in trouble, while MP Suhas Subramaniam has also expressed strong displeasure over this soft stance.
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