Treasury Secretary Defends Russia Sanctions Waiver Amid Debate

2 min read

Treasury Secretary Scott Bessent defended the administration’s decision to waive certain Russia sanctions, insisting that no sanctions were lifted and that European countries continue to engage in energy deals with Russia. During an appearance on NBC’s Meet the Press, Bessent faced pointed questions from host Kristen Welker, who accused President Donald Trump of rewarding a dictator by easing sanctions.

No Sanctions Lifted, Only Embargo Removed

Bessent clarified that the only thing removed was the embargo on Russian diesel, not sanctions. He emphasized that Trump has been the most aggressive in imposing sanctions on Russian energy companies, including Rosneft and Lukoil. Welker challenged Bessent, asking why sanctions were lifted now, and Bessent insisted that no sanctions were actually lifted, only a law was waived.

European Energy Deals Spark Controversy

Bessent argued that European nations continue to provide Russia with significant financial support through energy exports, with over $8 billion in Russian oil and gas shipments going to Europe in the first half of the year. He criticized the European Union for not joining the U.S. in imposing secondary tariffs on China and India, suggesting that the U.S. should not bear the burden alone.

Trump’s Waiver and Legal Framework

Bessent explained that Trump signed an executive order on Friday to waive the Russian sanctions and tariffs under the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, which was passed by Congress earlier this year. The law mandates tariffs on goods from Russia and the top five importers of Russian oil and gas, with the president given 60 days to assess the situation.

Ukraine and Global Reactions

Welker raised concerns about the move being seen as support for Russian President Vladimir Putin, citing Ukrainian President Volodymyr Zelenskyy’s criticism. Bessent responded by stating that Trump aims to stop the violence and emphasized that the U.S. is not alone in its approach. He also noted that the U.K. had waived its own diesel embargo earlier this year, questioning the global response to Russian energy deals.

Historical Context and Political Tensions

Bessent referenced his January 2025 confirmation hearing, where he criticized the Biden administration for its approach to energy prices. He claimed that Trump’s sanctions were more extensive than those under Biden, highlighting a political divide over energy policy and international sanctions.

Source: Daily Caller

Written by

Connor Davis