Treasury Secretary nominee Scott Bessent told senators on Thursday that he would be “100 percent in favor” of President-elect Trump if he supported a strategy of toughening sanctions against major Russian oil companies as a way to end the war in Ukraine. Ta.
“If Russian Federation officials are monitoring this confirmation hearing, I am 100% sure that if I am confirmed and President Trump requests it as part of his strategy to end the war in Ukraine, I will be subject to sanctions. You know percent participation,” Bessent said when asked about sanctions against Russia by Sen. Mark Warner (D-Va.).
Bessent called the Ukraine war “one of the greatest tragedies of my adult life.”
“And getting that done as quickly as possible and any role that the Treasury can play in that – if that is confirmed, I would like to do that,” he said.
Bessent argued that the Biden administration's sanctions against Russia were “not substantial enough.”
And he suspects that the Biden team's reluctance until recently to tighten sanctions on Russian oil was because it did not want to impact domestic oil and gas costs during the 2024 election. There is.
“I think the previous administration was concerned about U.S. energy prices rising during the election period,” he said.
“And I am perplexed by what the National Security Adviser said.” [Jake] “On his way out, Prime Minister Sullivan is increasing the level of sanctions against Russian oil companies, and in fact, U.S. oil prices are up about 9% this month,” he said, citing recent sanctions by the Biden administration.
Warner praised Bessent's response on Russia sanctions.
“I think it’s important not to take these tools out of your toolkit,” he said.
Mr. Warner told reporters outside the hearing room that he would “fully consider” the vote to confirm Mr. Bessent.
“I thought it was a very powerful comment that he said he was prepared to increase sanctions on Russia to increase pressure. I hope he makes that case to the next president.” said.
