U.S. Treasury Official hints at Ukraine-U.S. Economic Deal Amid Rising Tensions with Russia

Treasury Secretary Scott Bessent announced potential advancements in Ukraine-U.S. economic agreements amid sanctions discussions on Russia. Bessent highlighted the progress on a minerals deal while President Trump may elevate sanctions depending on Russia's actions. The U.S. continues to mediate truce violations between Ukraine and Russia.

U.S. Treasury Secretary Scott Bessent hinted on Wednesday that Ukraine may soon sign a significant economic agreement, while President Donald Trump remains ready to increase sanctions on Russia if necessary. Bessent spoke during an appearance on Fox News' 'The Story with Martha MacCallum' about ongoing negotiations regarding a minerals partnership.

Bessent revealed that a completed proposal for the economic collaboration is under review by Ukraine, with plans for further discussions and possible signing next week. President Trump indicated on Monday the likelihood of finalizing a U.S.-Ukraine revenue-sharing arrangement concerning Ukrainian critical minerals.

Meanwhile, Ukraine and Russia have traded accusations of violating a U.S.-facilitated truce concerning energy strikes. Ukrainian President Volodymyr Zelenskiy urged Washington to increase sanctions against Moscow, citing their lack of commitment to true peace initiatives.

Bessent stated that the future of Russian sanctions depends on actions from Russia's leadership, with potential increments if they serve a strategic purpose for President Trump. This came amid a separate ceasefire agreement for the Black Sea and energy strikes, as the U.S. aims to negotiate a resolution to the Ukrainian conflict that began over three years ago, following Russia's annexation of Crimea in 2014.

(With inputs from agencies.)