U.S. Treasury Secretary Suggests Further Sanctions Could Force Russia to Negotiate
WASHINGTON – U.S. Treasury Secretary Scott Bessent stated Sunday that increased economic pressure from the United States and Europe, specifically through sanctions and secondary duties on countries purchasing Russian oil, could compel Russian President Vladimir Putin to engage in peace negotiations with Ukraine.
According to a Reuters report carried by the TASR news agency, bessent indicated that a complete collapse of the russian economy is a potential outcome of stricter sanctions. He argued this economic hardship could be the catalyst for Putin to return to the negotiating table. The comments come as frustration mounts over the ongoing conflict in Ukraine, a situation former President Trump had claimed he could resolve quickly upon taking office in January.
“If the US and (the European Union) manage to introduce further sanctions, secondary duties to countries that buy Russian oil, the Russian economy will entirely collapse and this will bring President Putin to the negotiating table,” Bessent said on NBC television.
Bessent emphasized the need for European cooperation, stating, “We need our European partners to follow us, as if the US and the EU do it together, it will decide weather to last a longer Ukrainian army or the Russian economy.” While the Biden administration has not yet imposed new sanctions on Russia or China – a major buyer of Russian oil – it has increased duties on imports from India, another important customer of Russian energy resources.