Scott Bessent Pushes More Sanctions on Russia, India & China

In a sharp escalation of Washington’s rhetoric, US Treasury Secretary Scott Bessent said on Sunday that only a complete economic “collapse” of Russia could bring President Vladimir Putin back to the negotiating table for peace talks with Ukraine. Speaking in an interview with NBC, Bessent stressed that additional US sanctions on Russia—and secondary tariffs on countries purchasing Russian oil—would be the decisive factor in breaking Moscow’s resilience.

“We are in a race now between how long the Ukrainian military can hold versus how long the Russian economy can hold,” Bessent said. “If the US and the EU can push through more sanctions, especially secondary tariffs on nations buying Russian oil, then the Russian economy will be in full collapse. That collapse will bring President Putin to the table.”

Scott Bessent: India in the Crosshairs of Washington’s Tariff Strategy

Although Bessent avoided naming specific countries, India is widely seen as Washington’s primary target. Despite a thaw in relations highlighted by President Donald Trump and Prime Minister Narendra Modi’s recent public displays of mutual appreciation, New Delhi faces mounting pressure over its purchase of discounted Russian oil.

Currently, the US has imposed a 25% “penal” tariff on Indian imports linked to Russian energy deals, raising the total duty on many Indian products to nearly 50%. American officials, including Vice President JD Vance, have described these tariffs as “leverage” designed to weaken Moscow’s war effort. At various points, US policymakers have controversially referred to the Ukraine conflict as “Modi’s war,” accusing India of “fueling the Russian war machinery.”

India, however, has firmly defended its position. New Delhi maintains that its energy decisions are based solely on sovereign national interest, questioning the logic of Washington’s punitive tariff regime.

Europe’s Role and Transatlantic Coordination

Bessent also underscored the importance of European cooperation. “We (the US) are prepared to increase pressure on Russia, but we need our partners in Europe to follow,” he told NBC. He revealed that President Trump and Vice President Vance discussed expanded sanctions with European Commission President Ursula von der Leyen on Friday, and she later conferred with him directly.

Russia has remained under severe Western sanctions since the war’s outbreak nearly four years ago. Yet, Moscow has managed to redirect much of its oil and gas exports toward markets in Asia, particularly India and China, limiting the impact of Western restrictions.

Scott Bessent: War Escalation Overshadows Mediation Efforts

Bessent’s remarks come amid grim battlefield developments. On Sunday, Russia launched a devastating strike on Kyiv’s central government complex, an attack described by Ukrainian officials and European allies as a “serious escalation of the conflict.” The strike further undermines Trump’s ambition of mediating an end to the war, despite his high-profile summit with Putin in Alaska last month.

Washington’s sanctions campaign has also faced legal hurdles at home. A US circuit court has declared the tariffs targeting India illegal, though the ruling is under appeal. Asked about the case, Bessent expressed confidence: “I am certain that we will prevail at the Supreme Court.”

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