Official announcements from the U.S. Treasury Department or major news outlets

Trump's Treasury Nominee Bessent Supports Tougher Sanctions on Russian Oil to End Ukraine War

Jan 16, 2025, 04:54 PM

Scott Bessent, Donald Trump's nominee for Treasury Secretary, has expressed his readiness to intensify U.S. sanctions on Russia, particularly targeting the oil sector, if directed by President Trump. During his Senate confirmation hearing, Bessent criticized the Biden administration's approach to sanctions, stating that they were not 'fulsome enough' due to concerns about raising gas prices during the election. He suggested that stronger sanctions could bring Russia to the negotiating table to end the war in Ukraine. Bessent's stance includes 100% support for an increase in sanctions on Russian oil majors to levels that would compel Russia to engage in peace talks.