Bessent: Sanctions will reduce Russia's oil revenues by 20-30%.

US Finance Minister Scott Bessent assessed on Sunday that the US sanctions imposed on Russian oil companies could reduce Russia's revenues from oil exports by 20-30%. The minister also talked about concluding a preliminary agreement with China and withdrew the threat of imposing a 100% tariff on China. objective.

Bessent responded in this way in an interview for CBS television to the claims of Kremlin envoy Kirill Dmitriev, who assured that the Russian economy was resistant to sanctions and that their result would only be higher gasoline prices in the US. The minister called Dmitriev a “propagandist” and said the Russian economy was not immune.

– I think Russia will feel the pain immediately. I can tell you that India has already completely stopped purchasing Russian oil. Many Chinese refineries have suspended them. Margaret, are you really going to publish what the Russian propagandist says? Because what else can he say? That “oh, this is terrible, and this will bring Putin to the negotiating table”? – Bessent ironized.

– Of course – the Russian economy is a war economy. Economic growth is virtually zero. Inflation, I believe, is over 20%. (Russian statistics say 8.4%), and everything we do will lead Putin to negotiations. It is oil that finances the Russian war machine and I think we can significantly reduce its profits, he added.

Bessent stated that year on year, Russia's revenues from the sale of oil decreased by 20%. and that he suspects that sanctions will reduce them by another 20-30 percent.

– President Trump has been criticized for not doing enough. Now he has undertaken this bold maneuver and you are quoting a Russian propagandist, Bessent said to the journalist.

Dmitriev was scheduled to meet with special peacekeeping envoy Steve Witkoff in Florida on Saturday. It is known that on Sunday he met with pro-Russian Republican congresswoman Anna Paulina Luna. On Saturday, in an interview for Fox News, he argued that an agreement to end the war in Ukraine was close.

In addition to the issue of Russian sanctions, Bessent, in his Sunday media appearances, announced the conclusion of a preliminary framework agreement with China, announcing the withdrawal of the threat of imposing an additional 100 percent. tariffs on Chinese goods. As he stated, at the same time the threat to impose controls on the export of Chinese rare earth metals to countries around the world will be withdrawn. This is to be the result of his discussions with Chinese Vice Prime Minister He Lifeng.

The agreement is to be concluded during the Thursday meeting of the leaders of the superpowers in Busan, South Korea. Bessent announced that the leaders will then “consummate” the agreement on the takeover of TikTok in the US by an American consortium.

From Washington Oskar Górzyński (PAP)

osk/mms/