‘Some rich families of India are taking advantage’, why did Trump impose a fine for buying oil from Russia? US finance minister gave clarification

‘Some rich families of India are taking advantage’, why did Trump impose a fine for buying oil from Russia? US finance minister gave clarification

After imposing 50 percent tariffs on India for buying Russian oil, the Trump administration said that China’s oil imports are from different places and in such a situation, its condition is different. Finance Minister Scott Besant in the Trump government said on Tuesday (19 August 2025) that India is earning a big profit by purchasing oil from Russia. He said that some rich people of India are taking advantage of this.

Why did Trump impose a fine on buying oil from Russia?

During a conversation with CNBC, the US Finance Minister said, “India buys cheap oil from Russia and sells it again. All this is happening during the Russia-Ukraine War, which cannot be accepted under any circumstances. Earlier India used to buy less than one percent of its needs from Russia, but now 42 percent oil is being bought from Russia.

China’s situation is different- Trump administration

He said, “Before the attack on Ukraine by Russia, China was buying 13 per cent of its need from Russia and now buying 16 per cent oil. Beijing oil imports are from different places, so their condition is different.” Trump has imposed 50 percent tariff on India to buy oil from Russia, while 30 percent tariff has been imposed on China.

US Finance Minister Scott Besant said, Russia has earned more than 16 billion by purchasing cheap oil. There are some rich families of India. Trump has imposed a 50 percent tariff on India to buy Russian oil during the Ukraine War, which will be implemented from 27 August 2025. After this ban, Russia supported India and warned the US that any country is free to choose its business partner.

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