Trump Can Impose 500% Tariffs on Russian Oil Buyers Without Senate Approval, Says US Treasury Chief; Claims India Has Halted Imports

US Treasury Secretary Scott Bessent said on Tuesday that President Donald Trump does not require specific authorization from the Senate to impose punitive tariffs of up to 500 per cent on countries that continue to purchase Russian oil.

Bessent was referring to a bipartisan Russia Sanctions Bill, which would formally empower the US administration to levy at least 500 per cent tariffs on imports from nations buying Russian crude. President Trump earlier this month signaled his support for the legislation.

“On the 500 per cent tariff on buyers of Russian oil, that is a proposal that Senator Graham has in front of the Senate and we will see whether that passes,” Bessent said in an interview. “We don’t believe that President Trump needs that authority, that he can do it under IEPA, but the Senate wants to give him that authority.”

Commenting on India, the Treasury secretary claimed that New Delhi has stopped buying Russian oil following the Trump administration’s decision to impose a 25 per cent tariff.

“We have Europe buying Russian oil still, four years later—they are financing the war against themselves,” Bessent said. “India started buying Russian oil after the conflict began, but President Trump put a 25 per cent tariff on them, and India has geared down and has stopped buying Russian oil.”

Bessent also criticized China, one of Russia’s largest energy customers, noting that Washington has long considered imposing tariffs of up to 500 per cent on Beijing over its purchases of Russian oil.

On January 8, Senator Lindsey Graham, who introduced the sanctions bill, said the legislation would give President Trump “tremendous leverage against countries like China, India and Brazil to incentivize them to stop buying the cheap Russian oil that provides the financing for Putin’s bloodbath against Ukraine.”

Bessent had previously said in October that “85 US senators are willing to give President Trump the authority to put up to 500 per cent tariffs on China for the purchase of Russian oil.”

India’s response

India has acknowledged the proposed sanctions bill but has not commented directly on claims that it has halted Russian oil imports.

Ministry of External Affairs spokesperson Randhir Jaiswal said New Delhi is closely tracking developments related to the legislation. “We are fully aware of the proposed bill being discussed, and we are carefully monitoring all related issues and developments connected with it,” he said.

India has reiterated that its energy policy is guided by market conditions and the need to ensure reliable supplies at reasonable costs. Jaiswal said the government remains focused on securing energy at “affordable prices” for its 1.4 billion people.