Trump Imposed Toughest Russia Oil Sanctions: Bessent

(MENAFN- IANS) Washington, May 29 (IANS) US Treasury Secretary Scott Bessent defended the Trump administration's record on Russia sanctions, arguing that it has imposed tougher measures on Moscow's oil sector than any previous US government despite continuing criticism over Washington's approach to the war in Ukraine.

At a White House briefing, Bessent said the administration had taken unprecedented action against Russia's energy industry, including sanctions targeting two of the country's largest oil companies.

"This administration has put the hardest sanctions on Russia of any country," Bessent said.

Responding to a question about whether Washington was considering additional sanctions following recent Russian attacks on Kyiv, Bessent used the opportunity to contrast the administration's approach with that of its predecessor.

"The Biden administration put on very, what I would call, mild sanctions because they were worried about gasoline prices going up into an election," he said.

Bessent argued that the sanctions regime was significantly strengthened before the transition of power and subsequently expanded under President Donald Trump.

"Fast forward to October, and President Trump instructed me to sanction the two largest Russian oil companies, Lukoil and Rosneft, which we did," he said.

"No other government has done that."

"So, no one has done more sanctions than the Trump administration on Russian oil."

The comments come amid renewed debate in Washington and Europe over whether economic pressure on Moscow should be intensified as the conflict in Ukraine continues.

While Bessent did not announce any new sanctions, his remarks suggested the administration believes its existing measures have already gone further than those adopted by many allies.

The United States, European Union and other Western allies have imposed multiple rounds of sanctions on Russia since the outbreak of the war in Ukraine, targeting banks, energy companies, defence industries and senior government officials. The effectiveness of those measures remains the subject of debate among policymakers and economists.

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