U.S. Treasury Secretary: Russia’s economic collapse could bring Putin to negotiating table

U.S. Treasury Secretary Scott Bessent said this on Sunday in an interview with NBC News, Ukrinform saw.

Bessent believes that an economic “collapse” in Russia could bring Vladimir Putin to the negotiating table.

"We are prepared to increase pressure on Russia, but we need our European partners to follow us," Bessent said.

He added that he discussed sanctions with European Commission President Ursula von der Leyen.

"And if the U.S. and the EU 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 President Putin to the table," Bessent said.

He also noted that on Monday he would meet with European officials responsible for sanctions in Washington to discuss measures to increase economic pressure.

Earlier reports noted that in August, the Trump administration imposed a 50% tariff on India due to its continued purchases of Russian oil amid Russia’s war in Ukraine. That same month, Donald Trump threatened additional tough sanctions against Russia to compel Putin to end the war. However, after meeting Putin in Alaska, the U.S. President said he would delay additional sanctions or other harsh measures because the meeting went “very well.”

Photo: Tom Williams/CQ Roll Call