Washington DC [US], September 2 (ANI): US Treasury Secretary Scott Bessent expressed confidence that India and the US will resolve trade friction between them, as he believed that New Delhi's values are much closer to Washington than to China and Russia.

In an interview with Fox Business, Scott Bessent, however, downplayed the significance of the Shanghai Cooperation Organisation (SCO) Summit, calling it 'largely performative.'

'This is a longstanding meeting, it's called the Shanghai Cooperation Organisation and I think it's largely performative,' Bessent said. 'I think at the end of the day, India is the most populous democracy in the world. Their values are much closer to ours and to China's than to Russia's.'

'I think at the end of the day, two great countries will get this solved. But the Indians have not been great actors in terms of buying Russian oil and then reselling it, financing the Russian war effort in Ukraine,' he told Fox Business.

Bessent's remarks come amid the rising friction between Washington and New Delhi due to the 50 per cent tariffs imposed on Indian goods, which include a 25 per cent penalty for buying Russian oil.

On the other hand, White House trade adviser Peter Navarro attacked India, targeting Prime Minister Narendra Modi for meeting with Russian President Vladimir Putin and Chinese President Xi Jinping.

Speaking with reporters, Navarro lambasted PM Modi for what he termed 'getting in bed with the authoritarian', describing the meeting as shameful.

He also pressed that India needs the US, Europe and Ukraine and not Russia, urging New Delhi to stop purchasing discounted crude oil from Moscow.

'It was a shame to see Modi getting in bed as a leader of the biggest democracy in the world with the two biggest authoritarian dictators in the world - Putin and Xi Jinping. That doesn't make any sense. I am not sure what he's thinking. 'We hope he comes around to seeing that he needs to be with us, Europe and Ukraine, not Russia,' Peter Navarro said.

PM Modi, in his address at SCO, stressed the need to boost connectivity between the members to boost trade.

'India has always believed that strong connectivity not only boosts trade but also opens doors to growth and trust,' PM Modi said.

Russian President Putin said that dialogue within the SCO helps lay the foundation for a new Eurasian security system, replacing outdated Eurocentric and Euro-Atlantic models.

'The SCO is steadily increasing its influence in addressing international issues. National currencies are being used more widely in mutual settlements for trade among SCO countries. The pace of development of cooperation within the SCO is impressive,' said Putin.

Additionally, Chinese President Xi Jinping called on the Shanghai Cooperation Organisation to uphold fairness and justice while addressing the 25th Meeting of the Council of Heads of State of the SCO.

'We must promote a correct historical perspective on World War II, and oppose the Cold War mentality and block confrontation and bullying practices,' Xi said. (ANI)