Sanctions on Russia can be expanded if peace talks stall — Bessent

Reuters posted a video of Bessent making his statements at a hearing before the United States Senate Banking Committee.

Bessent was asked whether he could commit to imposing sanctions on Russia’s so-called shadow fleet.

“I will take that under consideration," Treasury Secretary replied.

"We will see how the peace negotiations develop.”

Reuters noted that introducing new sanctions against Russia’s shadow fleet will mark a step that U.S. President Donald Trump has not taken since returning to office in January 2025.

Beyond potential new measures, Bessent said that sanctions imposed by the Trump administration on Russian oil companies Rosneft and Lukoil helped push Russia to agree to enter negotiations aimed at ending the war.

Bessent was also asked about the role of Jared Kushner in talks with Russia. He said that, in his view, Kushner is acting as a special envoy and intermediary in the negotiation process.