Biden’s Russia sanctions ‘egregiously weak’ – US Treasury

Washington is prepared to tighten the “egregiously weak” sanctions imposed on Russia by the administration of former US President Joe Biden if it helps accelerate a peace agreement in the Ukraine conflict, the US Treasury Department has said.

The US sanctions on Russia, which were first imposed in 2014 after Crimea’s reunification with Moscow, have since been expanded through executive orders and were extended last week through March 2026. Russia considers them illegal and has repeatedly demanded their removal.

Treasury Secretary Scott Bessent told the Economic Club of New York on Thursday that the US would no longer apply “lackadaisical” restrictions that allow circumvention.

Bessent criticized the Biden administration for holding back on tougher energy sanctions over concerns about rising gas prices, questioning the rationale behind providing “substantial US military and financial support over the past three years” without enforcing matching restrictions.

He argued that weak sanctions allowed Moscow to keep financing its military operation and claimed that Biden’s last-minute restrictions on Russian energy in January were politically motivated.

“This administration [of President Donald Trump] has kept the enhanced sanctions in place and will not hesitate to go ‘all in’ should it provide leverage in peace negotiations,” Bessent said.

In February, Trump signed an executive order extending certain sanctions for another year, while suggesting they could be lifted “at some point” during peace talks.

US Secretary of State Marco Rubio recently suggested that Western nations may need to reconsider the sanctions to achieve an “enduring, sustainable” resolution to the Ukraine conflict. Speaking after high-level US-Russia talks in Saudi Arabia, he said concessions from all sides, including sanctions relief, would be necessary.

Reuters reported on Monday, citing sources, that Washington is drafting a plan to offer Russia sanctions relief under certain conditions.

Since taking office, Trump has pushed for a negotiated settlement, urging Ukrainian leader Vladimir Zelensky to agree to a ceasefire. The two have clashed over the terms, with Zelensky insisting that Washington must first provide security guarantees to Kiev.

After Zelensky’s ill-fated visit to Washington last week, Trump accused him of resisting a peace deal, leveraging US support for political gain, and “gambling with World War III.” This week, Washington paused military aid and some intelligence-sharing with Ukraine.

Moscow says it remains open to negotiations, but has criticized Zelensky’s 2022 decree banning talks with Russian President Vladimir Putin. The Kremlin has maintained that it seeks a lasting peace, warning that a temporary ceasefire would only allow Ukraine to rearm.

Putin said on Thursday that Moscow seeks a peace settlement that aligns with its interests and guarantees its long-term security. “We don’t need anything that belongs to others, but we won’t give up what’s ours,” he stated.