Sanctions Showdown: Can US and EU Make Russia Falter?
US Treasury Secretary Scott Bessent warns of a potential collapse of Russia's economy if the US and EU enforce more sanctions on nations buying Russian oil. This follows heightened tariffs on India. The geopolitical strain is underscored by discussions among global leaders aiming to curb Russian influence.
In a stark warning, US Treasury Secretary Scott Bessent suggested that Russia's economy faces possible collapse if Washington and the European Union implement tougher sanctions. The proposed measures would target countries importing Moscow's crude oil, aiming to cripple the Russian economy.
In discussions with European Commission President Ursula von der Leyen, and amid escalating tariffs, Bessent emphasized the pressing need for joint US-EU action. The discussions included an additional 25% US tariff on Indian oil purchases, elevating total tariffs on New Delhi to a towering 50%.
As geopolitical tensions rise, President Trump expressed disappointment over India's continued oil import from Russia, bringing US-India relations into a tense spotlight. India, however, staunchly defends its energy decisions, citing national interest amidst global market pressures.
(With inputs from agencies.)
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