US Treasury Secretary Scott Besant has accused India of profiting from cheap imports of Russian oil during the war in Ukraine. He also said Washington finds the situation unacceptable.
"They are just making a profit. They are reselling", Besant said in an interview with CNBC. "I would call this Indian arbitrage – buying cheap Russian oil and reselling it as a product.“
"They have made a windfall profit of $16 billion – some of the richest families in India“, Besant said.
"India buys Russian oil at a discount due to sanctions, refines it into gasoline and diesel, and then sells the product back to regions that have sanctioned Moscow, such as Europe," explained an oil market analyst at Kpler.
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Aug 19, 2025 21:25 349
US accuses India of profiting from Russian oil during sanctions over Ukraine war
India buys Russian oil at a discount due to sanctions, refines it into gasoline and diesel and then sells the product back to regions that have sanctioned Moscow, such as Europe
Снимка: БГНЕС/ЕРА