Scott Bessent, an American businessman recently nominated by newly elected U.S. President Donald Trump for the role of Secretary of the Treasury, advocates for a strengthening of sanctions against Russia. This stance is positioned within a broader strategy to end the Russian-Ukrainian war.
Mr. Bessent made this statement on Thursday, January 17, during a session of the Senate Finance Committee, Reuters reports.
“I think if any officials in the Russian Federation are watching this confirmation hearing, they should know that if I’m confirmed, and if President Trump requests as part of his strategy to end the Ukraine war, that I will be 100% on board with taking sanctions up – especially on the Russian oil majors – to levels that would bring the Russian Federation to the table,” Bessent said.
Scott Bessent’s nomination for the role of U.S. Secretary of the Treasury followed Trump’s election victory and was the result of a public competitive selection process.
Earlier, during the hearings on January 15 for the appointment of the U.S. Secretary of State, Trump’s nominee Marco Rubio emphasized the importance of sanctions as a critical tool for exerting influence, suggesting that they could facilitate a peaceful resolution in Ukraine.
Recently, the US introduced tougher sanctions against Moscow to curb Russian oil supply to China and India. The US Treasury imposed sanctions on Russian oil producers Gazprom Neft and Surgutneftegas, as well as 183 vessels that have shipped Russian oil. Washington targets revenues that Russia has used to fund its war against Ukraine.
Russia faces severe consequences from new US sanctions. Chinese and Indian refiners will source more oil from the Middle East, Africa, and the Americas, boosting prices and freight costs. According to analysts, US sanctions on Russian producers and ships will curb supplies to Moscow’s top customers.
On January 16, Bloomberg also disclosed that advisors to Trump are formulating an extensive sanctions strategy designed to promote the resolution of the ongoing Russian aggression against Ukraine.