WASHINGTON, Sept 7 (Reuters) – U.S. Treasury Secretary Scott Bessent stated on Sunday that intensifying economic measures from the United States and European allies might compel Russian President Vladimir Putin to engage in negotiations with Ukraine. Speaking on NBC’s “Meet the Press,” Bessent argued that coordinated actions such as expanded sanctions and secondary tariffs on nations purchasing Russian oil could severely weaken Russia’s financial system. “If the U.S. and the (European Union) step up with more sanctions and target the buyers of Russian oil, the Russian economy could face total collapse, which would likely push President Putin to the negotiating table,” he said.
Bessent emphasized that the current administration under President Donald Trump is ready to escalate pressure on Moscow. However, he stressed the importance of European cooperation, noting that the outcome may hinge on a race between the endurance of Ukraine’s armed forces and the resilience of Russia’s economy.
Despite early expectations that he could quickly end the conflict, Trump has expressed frustration over the ongoing war. While he has refrained from imposing new penalties on Russia and China—one of Russia’s primary oil customers—he has increased import tariffs on India, another major consumer of Russian energy.
— news from Reuters
— News Original —
Economic pressure could bring Russia to negotiating table, Bessent says
WASHINGTON, Sept 7 (Reuters) – U.S. Treasury Secretary Scott Bessent said on Sunday that additional economic pressure by the United States and Europe could prompt Russian President Vladimir Putin to enter peace talks with Ukraine. n n”If the U.S. and the (European Union) can come in, do more sanctions, secondary tariffs on the countries that buy Russian oil, the Russian economy will be in full collapse, and that will bring President Putin to the table,” Bessent said on NBC ‘s Meet the Press. n nSign up here. n nBessent said President Donald Trump ‘s administration is “prepared to increase pressure on Russia.” n nBut, he added, “we need our European partners to follow us, because if the U.S. and the EU do this together, we are in a race now between how long can the Ukrainian military hold up versus how long can the Russian economy hold up?” n nTrump has been frustrated at his inability to bring a halt to the fighting in Ukraine after he initially predicted he would be able to end the war swiftly when he took office in January. n nHe has withheld new sanctions on Russia and China, a top Russian oil buyer. But he has ramped up tariffs on U.S. imports from India, another top Russian energy consumer.