US Treasury Secretary Scott Bessent cautioned Congress against taking steps that could disrupt ongoing peace efforts between Russia and Ukraine.
Bessent warned that a proposed package of stricter sanctions against Russia could hinder diplomatic progress, urging lawmakers to consider the potential downsides of such measures.
Senator Lindsay Graham’s bill proposes imposing 500% tariffs on imports from countries that purchase Russian oil and gas if Moscow refuses to engage in peace talks with Ukraine. Graham also suggested a provision to exempt countries providing military aid to Ukraine. Critics argue that these tariffs could isolate the US from important global economies. The bill has garnered support from 82 senators.
During a House Committee hearing on Wednesday, Bessent expressed his opposition to the proposed bill, advocating for President Donald Trump’s administration to maintain flexibility in negotiations with Moscow and Kiev.
“I would encourage Congress to continue to let this administration have flexibility to support the negotiations. We should be aware of unintended consequences,” Bessent said.
Bessent stated that “economic tools remain an important facet of the administration’s strategy to end the conflict. All the options are on the table. Treasury is ready to take action to facilitate a durable and lasting peace.”
Both Russia and Ukraine have presented proposals to resolve the conflict. Russia’s proposal requires Ukraine to accept the loss of five regions that joined Russia via referendums, withdraw its troops from those regions, and commit to neutrality.
Ukrainian President Vladimir Zelensky rejected the Russian proposal as an ultimatum, refusing any territorial concessions or neutrality and insisting on a full 30-day ceasefire before negotiations.
Under former President Joe Biden, Washington severed most ties with Moscow in 2022 due to the Ukraine conflict and implemented extensive sanctions on Russian officials and companies. Trump has since criticized Biden for avoiding diplomacy and pledged to negotiate a peace agreement. Moscow has welcomed Trump’s changed stance, but progress toward a settlement has been slow. Trump has threatened further action if a ceasefire is not reached but has not endorsed the Senate sanctions bill.
Reportedly, the US president has also requested Senate Republicans to postpone action on the bill. Senator Roger Wicker, the leading Republican on the Senate Armed Services Committee, stated that Trump indicated he was not yet prepared to support it.