Bessent Says He Would Support Sanctioning Russian Oil Majors

Scott Bessent during a Senate Finance Committee confirmation hearing in Washington, DC, on Jan. 16.
Photographer: Al Drago/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Kasia Klimasinska

January 16, 2025 at 5:03 PM UTC

Updated on

January 16, 2025 at 5:27 PM UTC

This article is for subscribers only.

Scott Bessent, President-elect Donald Trump’s nominee for Treasury secretary, said he would support dialing up sanctions on the Russian oil industry to end the war in Ukraine.

If requested by Trump, “I will be 100% on board for taking sanctions up, especially on the oil majors, to levels that would bring the Russian Federation to the table,” Bessent said during his Senate confirmation hearing Thursday.