US says Russia’s gains from sanctions relief are limited

US Treasury Secretary Scott Bessent has defended the easing of sanctions on Russian oil on behalf of the Trump administration, arguing that it will not bring significant financial gains to Moscow. According to his calculations, Russia could gain at most about two billion dollars, an amount he described as comparable to one day of the Russian budget.

According to the Yelvropeiskaya Pravda portal, the key point is that relaxing some of the measures helps keep oil prices below the threshold at which Russia would earn appreciably more.

The administration says it is responding to global market turmoil following the escalation of the Middle East conflict, which has curtailed oil exports from the Gulf. The move has also drawn criticism in both Ukraine and the EU.

The President of the European Council, António Costa, has warned that weaker sanctions could strengthen the Russian war machine.

However, US President Donald Trump has said that sanctions on Russian oil will be reinstated once the regional crisis is resolved.

(pir)