Treasury Secretary nominee Scott Bessent said he would support hiking sanctions against Russia if President-elect Donald Trump directs him to do so and accused President Joe Biden of playing politics on sanction policy.

The Treasury Department on Wednesday announced sanctions connected with Russian secret payment channels created to skirt U.S. restrictions and a Kyrgyzstan financial institution that supports the Krem

Washington also took action against a sanctions evasion scheme established between actors in Russia and China, targeting regional clearing platforms in the two countries that it s

In the run-up to his departure from the White House, President Joe Biden has slapped a number of major new sanctions on Russia’s financial systems and energy sector. The U.S. originally threatened Russia with “the mother of all sanctions” as Moscow prepared to invade Ukraine in February 2022.

Advisors to Donald Trump are developing a sanctions strategy to reach an agreement between Russia and Ukraine while increasing pressure on Iran and Venezuela, Bloomberg reports. The agency notes that two scenarios have been prepared.