US Treasury Secretary Scott Bessent has signalled that Washington is ready to tighten sanctions on Russia and urged European allies to help “collapse” the Russian economy by pressuring countries that continue to buy Moscow’s oil.
Speaking to NBC News on Sunday, Bessent said the conflict has become “a race now between how long can the Ukrainian military hold up, versus how long can the Russian economy hold up”.
According to Bessent, additional sanctions and secondary tariffs on nations importing Russian crude would push the Russian economy “into total collapse” and bring President Vladimir Putin “to the table”.
“We are prepared to increase pressure on Russia, but we need our European partners to follow us,” said Bessent.
The warning comes a month after the administration of US President Donald Trump slapped 50 percent tariffs on India over its continued purchases of Russian oil, among the steepest levies Washington has imposed on any country.
Hours before Bessent’s remarks, Russia carried out what Ukrainian officials described as its largest air assault since the invasion began in 2022. The overnight strikes killed at least four people and ignited a government building in Kyiv.
US Envoy to Ukraine Keith Kellogg condemned the attack on Sunday, writing on X that Moscow “appears to be escalating with the largest attack of the war, hitting offices of the UKR Cabinet in Kyiv.”
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