Treasury Secretary Scott Bessent announced that the U.S. will intensify sanctions against Russia and Iran, aiming to achieve a cease-fire in Ukraine and to shut down Iran’s oil sector. The strategy aims for immediate impact and uses specific benchmarks and timelines.
On Thursday, Treasury Secretary Scott Bessent announced that the United States will intensify sanctions against Russia and Iran with the aim of achieving a cease-fire in the ongoing conflict in Ukraine. He emphasized that sanctions on Russian energy will be implemented aggressively and strategically, adhering to President Donald Trump’s directives.
Bessent articulated that sanctions against Russia will be applied with a focus on obtaining immediate results, stating that they will be utilized for “immediate maximum impact.” Additionally, he indicated that sanctions on Iran would also be escalated, with a decisive plan to effectively end the nation’s oil sector.
The Treasury Secretary expressed confidence in the U.S. strategy, asserting that the aim of making Iran financially vulnerable would initiate a revised approach to sanctions policy. He underscored the importance of predetermined benchmarks and timelines in executing these sanctions effectively.
In summary, Treasury Secretary Scott Bessent has indicated a strong commitment from the United States to intensify sanctions on both Russia and Iran. The focus on Russian energy sanctions seeks to accelerate a cease-fire in Ukraine, while a rigorous approach to Iran’s oil sector aims to cripple its economy. This marks a significant shift in the U.S. sanctions strategy under the current administration.
Original Source: www.business-standard.com
