U.S. Treasury Secretary Scott Bessent announced plans to intensify sanctions on Russia, particularly targeting its energy sector during the Ukraine war, and on Iran, aiming to weaken its oil sector. The sanctions are intended for immediate and maximum impact based on President Trump’s directives.
On Thursday, U.S. Treasury Secretary Scott Bessent announced that the United States is prepared to escalate sanctions against Russia and Iran. He indicated that the country would approach sanctions on Russian energy with a strong commitment, aiming for a cease-fire in the ongoing Ukraine conflict. Bessent emphasized that these sanctions would be employed in a focused and aggressive manner to achieve immediate results, as directed by President Donald Trump.
Furthermore, Bessent stated that the U.S. would intensify its sanctions against Iran, targeting the nation’s oil sector. He expressed a commitment to “shutdown” Iran’s oil production, utilizing “pre-determined benchmarks and timelines” to ensure effectiveness. Bessent declared, “Making Iran broke again will mark the beginning of our updated sanctions policy.”
In summary, Treasury Secretary Scott Bessent outlined the U.S. government’s determination to enhance sanctions against both Russia and Iran. The approach to Russian sanctions will be aggressive and is anticipated to significantly impact its energy sector, while the sanctions aimed at Iran will focus on crippling its oil industry, marking a new phase in U.S. foreign policy.
Original Source: www.business-standard.com
