India, Jan. 20 -- US Treasury Secretary Scott Bessent on Tuesday said President Donald Trump does need the authority from the Senate to impose 500 per cent tariffs on countries purchasing Russian oil.

On India, the Treasury Secretary claimed that New Delhi has stopped buying Russian oil after the Trump administration imposed 25 per cent tariffs.

Bessent was referring to the Russia Sanctions Bill allows the US to impose at least 500 per cent tariff on countries purchasing Russian oil. US President Donald Trump has greenlit the bill earlier this month.

"On the 500% tariff on the buyers of Russian oil, that is a proposal that Senator Graham has in front of the Senate and we will see whether that passes. We don't believe that President Tru...