 "‘Perverse thing’: Bessent says Europe funding war against itself by buying Russian oil that India refines")
US Treasury Secretary Scott Bessent has said that European nations have been doing the “most perverse” thing by purchasing refined petroleum products like petrol and diesel from India.
In an interview with Fox Business, Bessent said that European nations’ continued purchase of refined petroleum products from India amounting to financing the war against themselves.
“The most perverse thing is that India is buying discounted Russian oil but guess where those refined products are going? They are going to Europe. So, Europeans are financing the war against themselves,” said Bessent.
BREAKING: “I think India will slowly reduce oil purchases from Russia. But the perverse thing is that Europe is buying the oil that India refines. They are funding the war against themselves,” says U.S. Treasury Secretary Scott Bessent pic.twitter.com/69NGHUBTBU
— Shashank Mattoo (@MattooShashank) September 25, 2025
As for India, Bessent said that he believed that India would likely reduce buying Russian oil and wean itself off Russian oil.
Trump and his aides have repeatedly slammed India for buying Russian oil. They have accused India of funding the Russian war on Ukraine.
With 25 per cent tariff as a punishment for the purchase of Russian oil, Trump has raised tariffs on India to 50 per cent — the highest in the world. However, he has imposed any punitive tariffs on China, which is the largest buyer of Russian oil.
Impact Shorts
More ShortsTrump and his aides have often launched into tirades against India, with White House trade adviser Peter Navarro often taking the lead, who has accused India of profiteering from purchase of Russian oil.
How much refined oil does Europe buy from India?
Europe is indeed a major buyer of refined petroleum products like diesel, aviation fuel, gasoline, and naphtha and kerosene.
As per some estimates, around 27 per cent of all Indian refined oil exports have gone to Europe lately.
Instead of falling, Indian refined oil exports surged in 2025, reaching a 11-month high at a 41 per cent month-on-month increase last month.
One estimate from 2023 —the first full year after the Russian full-scale invasion began— from says that 15 per cent of all of EU’s refined petroleum products came from India. Another estimate said that, by the end of 2024, India’s post-invasion refined oil exports to Europe had surged by around 27 per cent.
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