India, Aug. 20 -- US Treasury Secretary Scott Bessent on Tuesday accused India of "profiteering" by purchasing Russian energy cheaply and reselling refined energy products in global markets while defending Washington's decision not to punish China for similar trade with Russia.

Bessent said in a television interview that Beijing's longstanding purchases of Russian oil were in contrast to India's rapid increase in imports after the war in Ukraine broke out. Bessent was asked why Washington had not placed tariffs on China for purchasing Russian energy, after imposing a 25% penalty, on top of a 25% reciprocal tariff, on India for the same.

"China importing Russian oil is sub-optimal. But if you go back and look, before the 2022 invasion, 1...