Goa, Jan. 24 -- US Treasury Secretary Scott Bessent on Friday suggested that the additional 25% tariff imposed on India over its purchase of Russian oil could be withdrawn, claiming the measure has already delivered results. Speaking to Politico at the World Economic Forum in Davos, Bessent said Indian refinery purchases of Russian crude have "collapsed" following the tariff, calling it a "huge success" for US trade policy. While the tariff remains in force, he indicated there is a diplomatic path for its removal if India alters its energy sourcing. The remarks come amid discussions in the US Congress on a proposed bill that could impose a 500% duty on countries buying Russian oil. India has reiterated that its energy policy prioritises a...
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