US Officials Pledge to Enact Tougher Sanctions on Russia, Including Energy Sector Measures
US Treasury Secretary Scott Bessent stated on Thursday that the US will not hesitate to impose further sanctions on Russia, including harsh measures targeting the Russian energy sector, in an effort to pressure Moscow into peace talks with Kiev. The sanctions, he said, will be explicitly and aggressively applied to achieve the maximum immediate effect.
In a speech, Bessent criticized the previous administration of President Joe Biden for imposing too weak sanctions on Russia. “A significant factor that enabled the further financing of Russia’s war machine was the incredibly weak sanctions of the Biden administration against the Russian energy sector” he said.
Although Biden had imposed comprehensive sanctions on the Russian oil sector in his final month in office, the reaction was too late, according to Bessent. President Donald Trump, he claimed, was willing to take even harsher measures.
“This administration has maintained the enhanced sanctions and will not hesitate to apply them in full if they serve as a pressure point for peace talks” Bessent said.
The 62-year-old official also expressed concern over Iran’s role in supplying Russia with drones and short-range missiles. “We will shut down the Iranian oil sector and production capacities for drones” he announced.
The “all-in” scenario Bessent referred to appears to be a response to recent reports that the White House is considering easing its sanctions on Russia. This consideration is part of a larger diplomatic maneuver in which the US is attempting to revive bilateral relations with Russia.
Trump himself stated on Thursday that the Ukrainian authorities want to sign a peace agreement with Russia because they have no other choice and that the Russian side is in a similar situation. “I believe the Ukraine will make a deal because I don’t believe they have a choice. I believe Russia will make a deal because it has a certain other choice – a certain other choice that only I know” he said.
According to Reuters, the US is considering lifting sanctions on a range of Russian companies and individuals, including several oligarchs. Media reports suggest that Russian representatives during talks in Saudi Arabia called on the US delegation to release frozen Russian assets abroad, with a total value of around $300 billion.