Bessent’s Firm Stance: No Economic Relief for Russia Until Ukraine War Ends

POLICY WIRE — Asheville, North Carolina — US Treasury Secretary Scott Bessent delivered a clear message to Russian Finance Minister Anton Siluanov on Monday: no economic relief or sanctions easement will be granted until the war in Ukraine concludes. The two officials met on the sidelines of the G20 finance leaders meeting in Asheville, North Carolina.

This meeting marked the first in-person contact between a Russian finance minister and a senior US official since 2022. European officials, who are working on additional sanctions against Russia, expressed irritation over Siluanov’s attendance.

Bessent’s firm stance aligns with the Trump administration’s strategy of using economic pressure as the primary lever in negotiations. The US and Europe are also discussing new sanctions and secondary tariffs on Russia, aiming for an economic “collapse” to push Russian President Vladimir Putin towards peace talks.

Prime Minister Svyrydenko emphasized the need for partners to strengthen Ukraine’s air defense and increase sanctions against Moscow. Treasury Secretary Bessent also signaled the US’s openness to partnering with European countries to impose more sanctions on nations purchasing Russian oil.

Reporting by Policy-Wire (PW)