US Treasury Secretary Scott Bessent signals potential removal of 25 percent tariffs on Indian goods linked to Russian oil imports
US Treasury Secretary Scott Bessent suggests a path to remove tariffs if India continues cutting Russian oil imports as OPEC increases its market share.
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USTreasury Secretary Scott Bessent scott bessentsignaled on January 24, 2026, that the United Statesmay remove 25 percent tariffs on Indian goods if India 
INcontinues to reduce its imports of Russian crude oil. Speaking in an interview with Politico at the World Economic Forum, Scott Bessentindicated that while the levies remain in place, a pathway for their removal is possible. This development comes as Indian refineries have sharply cut their purchases of Russian energy, with imports in December 2025 dropping to their lowest level in two years.
USTreasury Secretary Scott Bessent scott bessentsignaled on January 24, 2026, that the United Statesmay remove 25 percent tariffs on Indian goods if India INcontinues to reduce its imports of Russian crude oil. Speaking in an interview with Politico at the World Economic Forum, Scott Bessentindicated that while the levies remain in place, a pathway for their removal is possible. This development comes as Indian refineries have sharply cut their purchases of Russian energy, with imports in December 2025 dropping to their lowest level in two years.
