US Treasury Secretary Signals Tougher Sanctions on Russia Amid Ukraine Conflict

US-European Sanctions Could 'Collapse' Russian Economy: Trump Aide In a move to intensify pressure on Russia over its war in Ukraine, US Treasury Secretary Scott Bessent has signaled that Washington is ready to tighten sanctions on Moscow and urged European allies to help bring the Russian economy to its knees. Speaking to NBC News on Sunday, Bessent stated that "Russia's war in Ukraine has become a race now, between how long can the Ukrainian military hold up, versus how long can the Russian economy hold up." He emphasized that 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 negotiating table. "We are prepared to increase pressure on Russia, but we need our European partners to follow us," Bessent said. "We need them to be willing to take the necessary steps to ensure that countries like China, India, and others stop buying Russian oil." Bessent's warning comes a month after the US imposed new sanctions on several high-ranking Russian officials and entities in response to Russia's continued aggression in Ukraine. The proposed sanctions would target nations importing Russian crude, aiming to limit Moscow's revenue streams. Bessent acknowledged that this move could have far-reaching consequences for global energy markets, but emphasized that it is a necessary step to bring an end to the conflict. "We're not just talking about economic pressure; we're talking about bringing Putin to the table," Bessent said. "We need him to understand that his actions have consequences and that he needs to take steps to de-escalate this situation." The US has been working closely with European allies to coordinate a unified response to Russia's aggression in Ukraine. However, there are concerns among some European leaders about the potential impact of sanctions on their own economies. Bessent acknowledged these concerns but emphasized that the benefits of imposing sanctions outweigh the costs. "We believe that this is a necessary step to bring an end to the conflict and to restore stability to the region," he said. The proposed sanctions are part of a broader effort by the US to isolate Russia economically and diplomatically. The move has been welcomed by Ukraine's government, which has been calling for increased pressure on Moscow to end its aggression. As the situation in Ukraine continues to deteriorate, the international community is watching closely to see how the US and European allies will proceed with their plans to tighten sanctions on Russia. Background: The conflict between Russia and Ukraine began in 2014 when pro-Russian President Viktor Yanukovych was ousted from power. Since then, tensions have escalated, with Russia annexing Crimea and supporting separatist rebels in eastern Ukraine. In February 2022, Russia launched a full-scale invasion of Ukraine, leading to widespread human suffering and economic devastation. The international community has condemned the invasion, with many countries imposing sanctions on Russian officials and entities. Current Status: The proposed sanctions are currently being considered by European leaders, who will meet in Brussels next week to discuss the issue. Meanwhile, the US is working closely with its allies to coordinate a unified response to Russia's aggression. As the situation continues to unfold, one thing is clear: the international community is determined to bring an end to the conflict and restore stability to the region. The question remains: will the proposed sanctions be enough to bring President Putin to the negotiating table? *Reporting by Aljazeera.*