US Enhances Sanctions on Russia and Iran, According to Treasury Secretary

Treasury Secretary Scott Bessent affirmed that the US will intensify sanctions on Russia, particularly its energy sector, to support a cease-fire in Ukraine. He also announced plans to escalate sanctions on Iran, aiming to dismantle its oil industry with specified benchmarks.

On Thursday, Treasury Secretary Scott Bessent declared that the United States intends to intensify sanctions against both Russia and Iran. He affirmed the country would not hesitate to implement stringent sanctions on the Russian energy sector if it could facilitate a cease-fire in the ongoing Ukraine war.

Bessent emphasized that sanctions on Russia would be strategically applied for immediate and maximum effect, as directed by President Donald Trump. He expressed that these measures would be employed explicitly and aggressively to achieve rapid results.

Additionally, Bessent announced plans to significantly enhance sanctions on Iran, stating that the United States aims to completely cripple the nation’s oil sector through specific benchmarks and timelines. He asserted, “Making Iran broke again will mark the beginning of our updated sanctions policy.”

In summary, Treasury Secretary Scott Bessent has underscored the United States’ commitment to enhancing sanctions on both Russia and Iran. The goal is to leverage these measures to encourage a cease-fire in Ukraine while simultaneously destabilizing Iran’s oil industry with a clear and determined strategy.

Original Source: www.business-standard.com