Donald Trump’s nominee for US Treasury Secretary Scott Bessent called for tougher sanctions against Russia.
In his opinion, the restrictive measures introduced by the Joe Biden administration were insufficient.
Bessent is “100% willing” to support tougher sanctions against major Russian oil companies if Trump supports that strategy as a way to end the war in Ukraine.
The fact that advisers to President-elect Donald Trump are developing a large-scale strategy of sanctions as an incentive for peace negotiations between Ukraine and the Russian Federation was previously written in Bloomberg, citing sources.
Two approaches are key: easing and strengthening sanctions.
The first approach is applicable if the new administration believes that the end of the war is near.
This option provides, in particular, for issuing general licenses and raising the oil price ceiling above $60/barrel.
At the same time, a more aggressive sanctions policy against Russia involves tightening secondary sanctions against European shippers and Asian buyers, including large companies in India and China.
Or more decisive action against tankers transporting Russian oil through the Danish and Turkish straits.
The Trump team’s plans are still in the early stages of development.
The strategy discussion includes some of his administration’s nominees, former officials who worked on sanctions during Trump’s first term, and several conservative think tanks.
Ultimately, Trump’s advisers will face the same question as the Biden administration: how to avoid major disruptions to supplies and prices in the oil market at a time when Washington has imposed sweeping sanctions on the world’s three largest oil producers.
Another challenge: finding the right balance between using the tools of economic warfare and the desire to maintain the dollar’s status as the world’s reserve currency, the material says.
Source: Racurs
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.