U.S. Treasury Secretary Criticises FTA Between the E.U. and India; Blames Europe for Supporting Russia-Ukraine Conflict

The FTA reached between India and Europe met criticisms from the U.S. Treasury Secretary Scott Bessent. The agreement aims to enhance bilateral trade and reduce Europe’s reliance on the US for trade amid its tariff threats. However, U.S. Treasury Secretary Scott Bessent accused Europe of prioritising its commercial needs over the ongoing war in Ukraine. Reportedly, he also said that Europe is funding Russia’s war with Ukraine by indirectly purchasing its energy goods through India. 

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In an interview with CNBC, Bessent expressed his disappointment with Europe for finalising an FTA with India while Ukraine is at war. He said, “They should do what’s best for themselves, but I find the Europeans very disappointing.” 

Europe Refused to Align with U.S. Tariff Rules in India Because of FTA: US Treasury Secy

Bessant, reportedly, blamed the FTA between the E.U. and India for Europe's refusal to align with the U.S. in imposing high tariffs on India. “The Europeans were unwilling to join us because they wanted to do this trade deal…So every time you hear a European talk about the importance of the Ukrainian people, remember that they put trade ahead of the Ukrainian people,” Bessent told the media. 

U.S. Treasury Secy: Europe Financing Russia’s War Against Ukraine

Furthermore, U.S. Treasury Secretary Scott Bessent accused Europe of indirectly financing Russia in its war against Ukraine. He said that Europe is funding Russia by buying the refined products which India makes out of crude oil traded from Russia.

“The Russian oil goes into India, the refined products come out, and the Europeans buy the refined products. They are financing the war against themselves,” reports quoted Bessent. 

The reports also mentioned that Scott Bessent credited the U.S. for supporting Ukraine more than Europe by imposing pressure on Moscow to end the Russia-Ukraine war. Bessent added that the U.S. is making more sacrifices for Ukraine than Europe. “Trump has worked to negotiate a settlement on the Russia-Ukraine conflict,” the U.S. Treasury Secretary told the media.