Finance

Treasury's Bessent says further Russian sanctions depend on peace talks

Published by Global Banking & Finance Review

Posted on February 5, 2026

2 min read

· Last updated: February 5, 2026

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Treasury's Bessent says further Russian sanctions depend on peace talks
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By David Lawder and Andrea Shalal WASHINGTON, Feb 5 (Reuters) - U.S. Treasury Secretary Scott Bessent on Thursday said further U.S. sanctions against Russia depend on talks aimed at ending the nearly

Further U.S. Sanctions on Russia Linked to Peace Talks, Says Bessent

U.S. Sanctions and Peace Talks

By David Lawder and Andrea Shalal

Role of Trump Administration

WASHINGTON, Feb 5 (Reuters) - U.S. Treasury Secretary Scott Bessent on Thursday said further U.S. sanctions against Russia depend on talks aimed at ending the nearly four-year-old Ukraine war.

Concerns Over Conflicts of Interest

Bessent, who participated in talks with Russian officials and President Donald Trump's envoy Steve Witkoff and Trump's son-in-law Jared Kushner in Miami on Saturday, said he would consider new sanctions against Russia's shadow fleet - a step Trump has not taken since returning to office in January 2025.

"I will take it under consideration. We will see where the peace talks go," Bessent said at a Senate Banking Committee hearing.

He said the Trump administration's U.S. sanctions against Russian oil majors Rosneft and Lukoil had helped bring Russia to the negotiating table in the peace talks.

Asked what role Kushner was taking in the Russia talks, Bessent said that he believed President Trump's son-in-law was acting as a special envoy and an interlocutor in the talks

Democratic Senator Andy Kim said the involvement of Trump family members without official positions could raise conflicts of interest.

(Reporting by David Lawder and Andrea Shalal)

Key Takeaways

  • Further U.S. sanctions on Russia depend on Ukraine peace talks.
  • Treasury Secretary Scott Bessent discussed sanctions at a Senate hearing.
  • Trump administration's sanctions brought Russia to negotiations.
  • Jared Kushner acts as a special envoy in Russia talks.
  • Concerns raised about conflicts of interest with Trump family involvement.

Frequently Asked Questions

What is a shadow fleet?
A shadow fleet refers to a group of ships that operate outside of regulatory oversight, often used for illicit activities such as smuggling or evading sanctions.

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