U.S. Treasury Secretary Scott Bessent said on Thursday that whether Washington will adopt further sanctions on Russia depends on the outcome of talks aimed at ending the nearly four-year conflict in Ukraine.
Bessent, who attended meetings in Miami that included Russian officials and two close associates of President Donald Trump - real estate investor Steve Witkoff and presidential son-in-law Jared Kushner - said new measures could target Russia's shadow fleet, but added that any decision will reflect the trajectory of the negotiations.
"I will take it under consideration. We will see where the peace talks go," Bessent told members of the Senate Banking Committee.
At that hearing, Bessent also said the Trump administration's sanctions on large Russian oil companies Rosneft and Lukoil had played a role in bringing Russia to the negotiating table.
When asked about Kushner's function in the discussions, Bessent said he believed the president's son-in-law was acting as a special envoy and serving as an interlocutor in the talks. Democratic Senator Andy Kim cautioned that the participation of Trump family members who do not hold official government positions could create conflicts of interest.
The treasury secretary's remarks link the prospect of further U.S. economic measures directly to diplomatic progress, with sanctions framed as contingent tools rather than automatic escalatory steps. The specific reference to a potential focus on the shadow fleet - a maritime network that has been the subject of recent scrutiny - indicates a possible avenue for future action should negotiators deem it appropriate.
Bessent's testimony to the Senate Banking Committee emphasized the administration's use of targeted sanctions on major energy firms as a lever in diplomatic engagement, while highlighting the conditional nature of any additional measures pending the results of the peace talks.
Note: The article contains statements made during a Senate Banking Committee hearing and recounts participants and remarks from meetings in Miami as described by the Treasury secretary.