U.S. Treasury Secretary Scott Bessent stated on Sunday that increased economic pressure from the United States and Europe could push Russian President Vladimir Putin to enter peace negotiations with Ukraine.
“If the U.S. and the European Union can impose more sanctions, including secondary tariffs on countries purchasing Russian oil, the Russian economy will face complete collapse, and this could bring President Putin to the negotiating table,” Bessent said on NBC’s Meet the Press.
He added that the Trump administration is prepared to increase pressure on Russia.
“We need our European partners to follow suit because if the U.S. and EU act together, we are now in a race between how long the Ukrainian army can endure and how long the Russian economy can withstand,” he emphasized.
Bessent’s comments come amid Trump’s frustration over the inability to end the fighting in Ukraine, despite initially predicting that he could swiftly conclude the war upon taking office in January. He has suspended new sanctions on Russia and China, a major buyer of Russian oil, while increasing tariffs on U.S. imports from India, another key consumer of Russian energy.
