US Treasury Secretary Scott Bessent again criticised the EU’s trade deal with India, saying Europe put commerce ahead of pressure on Russia over the Ukraine war.
US Treasury Secretary Scott Bessent on Wednesday once more criticised Europe’s decision to finalise a major trade agreement with India, saying it showed the continent had put trade interests ahead of its stated concern for the Ukrainian people.
Speaking to CNBC, Bessent said he was disappointed by Europe’s stance, arguing that Brussels had prioritised commercial interests even as the war in Ukraine continued.
“They should do what’s best for themselves, but I will tell you, I found, I find the Europeans very disappointing,” Bessent said.
His remarks came a day after the European Union finalised a long-delayed trade agreement with India, aimed at boosting two-way trade and reducing Europe’s reliance on the United States amid growing global trade tensions. The EU said the deal would eliminate or reduce tariffs on 96.6% of traded goods by value, potentially doubling EU exports to India by 2032 and saving European companies around 4 billion euros in duties.
He said the trade deal explained why the European Union had refused to match Washington’s decision to impose higher tariffs on India last year. “The Europeans were unwilling to join us, and it turns out, because they wanted to do this trade deal,” he said. “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 accused Europe of indirectly financing Russia’s war effort by buying refined fuel products linked to Russian crude oil. “The Russian oil goes into India, the refined products come out, and the Europeans buy the refined products,” he said. “They are financing the war against themselves.”
Bessent’s criticism followed similar comments he made last week, before the trade deal was formally signed. In an interview with ABC News, he said the US had imposed 25% tariffs on India over its purchases of Russian oil, while Europe was moving ahead with a trade pact.
“We have put 25% tariffs on India for buying Russian oil. Guess what happened last week? The Europeans signed a trade deal with India,” Bessent said. “And just to be clear again, 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.”
