Trump eyes tougher sanctions to bring Putin to the table
The newly inaugurated President of the USA, Donald Trump, is preparing the ground for a future agreement between Russia and Ukraine. The key measure is expected to be even stricter sanctions intended to persuade Vladimir Putin to negotiate.
Donald Trump will officially begin his presidency on January 20th. As he has announced, he will strive for a swift conclusion to the war in Ukraine, although this process may take several months.
Trump plans to persuade Vladimir Putin to join Ukraine at the negotiation table. The primary tool will be sanctions. The strategy includes tightening secondary sanctions against those who continue purchasing Russian oil. According to Bloomberg, the USA may intensify inspections of ships transporting Russian oil through the Danish or Turkish straits.
The newspaper suggests that certain concessions on sanctions could be made if Russia decides to engage in negotiations. Trump's advisors are already working on a comprehensive sanctions strategy to facilitate a diplomatic agreement between Russia and Ukraine.
Trump's team is preparing an oil sanctions plan
Scott Bessent, who was nominated by Donald Trump on Thursday in the Senate as the future head of the Treasury Department, expressed his readiness to escalate sanctions, including targeting Russian oil giants, if they align with the president's strategy. He also affirmed his support for preserving the Federal Reserve's independence.
Bessent discussed sanctions against Russia during a hearing before the Senate Finance Committee, which was part of the process of confirming him for the new position.
I think if any officials in the Russian Federation are watching this confirmation hearing, they should know that if I'm confirmed, and if President Trump requests as part of his strategy to end the Ukraine war, that I will be 100% on board with taking sanctions up --especially on the Russian oil majors -- to levels that would bring the Russian Federation to the table, declared the financier.
Bessent assessed that previous sanctions were not stringent enough but admitted he was surprised that the outgoing administration imposed restrictions on the Russian oil sector only just before the end of its term, leaving the issue of 9 per cent higher oil prices to their successors.
