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'We are prepared to increase pressure on Russia,' US Treasury's Bessent says

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'We are prepared to increase pressure on Russia,' US Treasury's Bessent says
Scott Bessent, U.S. Treasury Secretary, during a Bloomberg Television interview in New York, U.S., on May 23, 2025. (Michael Nagle / Bloomberg via Getty Images

Treasury Secretary Scott Bessent told NBC News on Sept. 7 that the U.S. is prepared to work with European allies on new sanctions targeting countries that buy Russian oil, aiming to weaken Moscow’s economy and step up pressure on Russia to reach a ceasefire.

“We are prepared to increase pressure on Russia, but we need our European partners to follow us,” Bessent said.

“We are in a race now between how long can the Ukrainian military hold up, versus how long can the Russian economy hold up.”

Bessent argued that expanded tariffs could increase pressure and force Russian President Vladimir Putin to begin ceasefire negotiations sooner.

Bessent’s remarks follow the Trump administration’s recent move to impose 50% tariffs on India over its continued oil purchases from Russia.

The comments came hours after Russia carried out a record attack on Ukraine, killing at least four people and setting fire to a government building in Kyiv.

Ukraine hits ‘strategically important’ oil infrastructure in Russia, General Staff confirms
Ukrainian forces struck the Ilsky oil refinery in Russia’s Krasnodar Krai and the “8-N” oil pipeline control station near the village of Naitopovichi in Bryansk Oblast, Ukraine’s General Staff confirmed on Sept. 7.
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Sonya Bandouil

North American news editor

Sonya Bandouil is a North American news editor for The Kyiv Independent. She previously worked in the fields of cybersecurity and translating, and she also edited for various journals in NYC. Sonya has a Master’s degree in Global Affairs from New York University, and a Bachelor’s degree in Music from the University of Houston, in Texas.

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