US Treasury chief signals possible escalation in Russia sanctions

In an interview with Bloomberg TV, U.S. Treasury Secretary Scott Bessent has warned that the United States could increase sanctions pressure on Russia if the upcoming Alaska meeting between Presidents Vladimir Putin and Donald Trump fails to produce positive results.

“We have imposed secondary duties on India for purchasing Russian oil. And I can assume that if things go badly, sanctions or secondary duties may be increased,” Bessent said.

He emphasised that the scope and duration of any sanctions could vary depending on the outcome of the leaders’ talks. “Sanctions may be tightened, they may be relaxed. They may be limited in duration, or they may continue indefinitely,” the Treasury Secretary noted.

Bessent also reiterated his call for European countries to join in implementing secondary duties against Russia to increase pressure on Moscow and enhance leverage in ongoing negotiations.

At the end of July, the US leader announced the introduction of 25% tariffs on imports from India, citing New Delhi's high tariffs, trade barriers, and cooperation with Russia. These measures came into force on August 7. Trump also signed an executive order imposing an additional 25% duty on imports from India for purchases of Russian oil, which will take effect on August 27.

By Tamilla Hasanova