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- US Treasury Secretary Scott Bessent has urged the United States and European Union to adopt tougher, coordinated economic measures against Russia’s energy trade.
- Speaking in a recent interview, Bessent said that secondary tariffs on countries purchasing Russian oil could have a decisive impact on Moscow’s ability to finance...
- He noted that only a united transatlantic approach can make the sanctions meaningful and effective.
- Russia’s oil exports have been a lifeline for its economy since the start of the Ukraine war.
US Treasury Secretary Scott Bessent has urged the United States and European Union to adopt tougher, coordinated economic measures against Russia’s energy trade. Speaking in a recent interview, Bessent said that secondary tariffs on countries purchasing Russian oil could have a decisive impact on Moscow’s ability to finance its war in Ukraine. He noted that only a united transatlantic approach can make the sanctions meaningful and effective.
Russia’s oil exports have been a lifeline for its economy since the start of the Ukraine war. While Western nations cut their direct dependence on Russian energy, countries such as India and China have stepped in as major buyers. Bessent argued that unless these flows are restricted through penalties or tariffs, Russia will continue to fund its military operations without significant difficulty.
According to Bessent, the conflict has now become a race between Ukraine’s military endurance and Russia’s economic resilience. By tightening access to revenues from oil sales, Washington and Brussels hope to shorten that race. He underlined that financial strain could be the most effective tool to draw President Vladimir Putin to the negotiating table.
The idea of secondary tariffs would mark a major escalation in sanctions. India already faces a 50 percent US tariff on certain imports linked to its Russian oil trade, imposed in late August. China, too, is closely watched for its energy ties with Moscow. Analysts warn that such measures could disrupt global oil flows, raising concerns for both energy security and international markets.
The debate highlights the difficulty of balancing geopolitical goals with economic stability. For Washington and Brussels, the challenge lies in applying pressure strong enough to influence Russia without destabilizing global trade. As Bessent pointed out, only coordinated action has the chance to tilt the balance in Ukraine’s favor.
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