US Finance Minister Scott Besant (Social Media)
International News: Business and diplomatic tensions between India and America are in the news these days. US Finance Minister Scott Besant, in an interview with Fox News, admitted that differences between the two countries are deep, but eventually the world's two largest democratic forces will solve their problems.
Describing India as the largest democracy in the world, Besant said that India's values are closer to America and China and not Russia. However, he accused India of not only fulfilling its needs by buying cheap oil from Russia but also giving indirect financial assistance to the Russia-Ukraine war by re-exporting it.
India dismissed the allegations and said that oil purchases are based on national interest and market needs. India clearly says that it is its priority to give relief from energy security and inflation.
The US has recently announced a 50% tariff on Indian goods. This step is directly considered to be related to the resentment of America over the purchase of oil from Russia. India has termed this decision as "unfair and absurd." Experts say that in the last two decades it has been the most stressful phase of Indo-US relations.
Besant says that business talks had to increase the tariff due to slow progress and strategic differences. At the same time, India believes that this step is against the strong relations between the two countries and this will cause a lack of trust.
Recently, Prime Minister Narendra Modi met Russian President Vladimir Putin and Chinese President Xi Jinping at the Shanghai Cooperation Organization (SCO) conference held in Tianjin, China. The US reacted sharply to this. Besant described the SCO as a "most showy" organization and said that its real impact is limited. However, the US is uncomfortable that India is sharing the stage with both Russia and China.
In the interview, Besant took a tough stand on Russia. He said that Russia's latest Russian bombing on Ukraine is "condemnable," and the Trump administration is preparing to impose a more rigorous ban on Russia. Besant clarified that "all options are open."
On the other hand, India has always said that its policies are not against any country. Buying oil from Russia is part of its energy security strategy and this decision is taken only keeping in mind the national interests.
Despite stress, Besant expressed confidence that India and America would remove their differences. He said that there are deep relations between the two countries in areas like defense, technology and investment. This partnership is so strong that the current dispute cannot break it. India has also reiterated that it gives importance to its strategic relations with the US, but will not compromise on energy needs.
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