Bessent told CNBC in an interview that India had made huge profits on the sale of Russian oil during the war in Ukraine
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U.S. Treasury Secretary Scott Bessent said on Tuesday India was profiteering on its purchases of Russian oil, buying at lower prices and then reselling at a higher rate.
Bessent told CNBC in an interview that India had made huge profits on the sale of Russian oil during the war in Ukraine.
"This ... Indian arbitrage - buying cheap Russian oil, reselling it as product has just sprung during the war - which is unacceptable," he said.
(Reporting by Andrea Shalal Editing by Bernadette Baum)
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