U.S. Treasury Chief Says Washington Aims to Push Russian Economy to Collapse

U.S. Treasury Secretary Scott Bessent said Sunday that Washington is prepared to work with European allies on a new round of sanctions designed to bring Russia’s economy to the brink of collapse, intensifying pressure on the Kremlin to halt its war in Ukraine.

The Gaze reports this, referring to Bessent’s interview with NBC News.

The U.S. Treasury Secretary described the struggle as a race between Ukraine’s ability to withstand Russia’s onslaught and Moscow’s capacity to keep its economy afloat. 

He stressed that only coordinated Western action, including harsher sanctions and tariffs on countries that continue to purchase Russian oil, could tip the balance.

“And if the U.S. and the European Union can come in, do more sanctions, secondary tariffs on the countries that buy Russian oil, the Russian economy will be in total collapse, and that will bring Russian President Vladimir Putin to the table,” Bessent said.

His comments followed Russia’s largest aerial assault of the war to date, in which waves of drones and missiles killed at least four people in Ukraine.

Last month, the Trump administration imposed 50% tariffs on Indian imports, citing New Delhi’s continued reliance on Russian crude. The decision highlighted Washington’s growing reliance on economic measures to curb Moscow’s revenues.

As The Gaze previously reported, Russia unleashed a record wave of drones and missiles on Ukraine overnight, striking residential districts in Kyiv, killing at least two people, including an infant, and leaving 20 injured. For the first time since the start of the full-scale war, Ukraine’s Cabinet of Ministers building sustained direct damage.