Scott Bessent Pledges Strong Stance on Russian Sanctions

Scott Bessent, Trump's pick for Treasury Secretary, supports raising sanctions against Russian oil producers. He believes Biden's sanctions were insufficient and is committed to aiding in the resolution of the Ukraine conflict, potentially by increasing pressure on Russia through elevated oil sanctions.

In a firm stance during his confirmation hearing, Scott Bessent, nominated by President-elect Donald Trump for Treasury Secretary, expressed unequivocal support for escalating sanctions on Russian oil producers if requested by the future president.

Addressing the Senate Finance Committee, Bessent criticized existing sanctions from the Biden administration as insufficient. He declared that tougher measures could force the Russian Federation to negotiate, particularly concerning their oil industry's role in the ongoing Ukraine war.

Bessent highlighted the urgency of ending the Ukraine conflict and vowed that, if confirmed, he would utilize the Treasury's capabilities to contribute to this goal in any possible capacity.

(With inputs from agencies.)