Overview

• Trump previously added an extra 25% tariff on Indian imports tied to Russian oil, which Bessent says has yielded substantial progress in talks with New Delhi, with another round set for Tuesday.
• Bessent urged European governments to levy 50% to 100% tariffs on buyers of Russian oil and criticized ongoing purchases of Russian crude and India-refined products.
• He argued that substantial European secondary tariffs could end the war within 60 to 90 days by cutting off Moscow’s main revenue source.
• Treasury signaled readiness to coordinate tougher sanctions on Russian energy majors such as Rosneft and Lukoil and to expand use of frozen Russian sovereign assets.
• Chinese officials told U.S. negotiators that their oil purchases are a sovereign matter, rejecting pressure over energy trade decisions.