The US will impose sanctions against Russian energy if it contributes to a ceasefire in Ukraine.
This was stated by the US Treasury Secretary Scott Bessent.
Sanctions against Russia “will be used openly and aggressively for immediate maximum impact” at the direction of the US President Donald Trump, Bessent said. Additional sanctions against Russia could give the US more leverage in negotiations to end the war in Ukraine.
The current US Treasury Secretary criticized the administration of previous President Joe Biden for not tightening energy sanctions against Russia for fear of raising gas prices.
“What is the point of substantial US military and financial support over the past three years without corresponding sanctions?” Bessent asked during a speech at the Economic Club of New York.
The US will also tighten sanctions on Iran. According to Bessent, they will “shut down” the country’s oil sector using “pre-determined criteria and timelines”.
“Iran’s repeated bankruptcy will mark the beginning of our renewed sanctions policy,” the official said.
Bessent suggested that the US would work with “regional parties” that help push Iranian oil to market. One of those countries is likely to be Russia. Earlier this week, Russia said it was ready to help the US in nuclear talks with Iran.
According to Bessant, all of Trumpʼs steps are aimed at advancing US interests on the world stage.
- Bloomberg, citing sources, wrote that the US will not lift sanctions against Russia in the absence of a noticeable change in Moscowʼs behaviour. But it is possible that some of them will be eased if the Russians begin to take the measures that the US seeks.
- Reuters later reported that the White House was looking at options for a possible easing of sanctions against Russia. Sanctions agencies are preparing a proposal to lift sanctions on individual entities and individuals, including a number of Russian oligarchs.
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