US threatens full economic collapse for Russia if allies back new sanctions
Photo: US Treasury Secretary Scott Bessent (Getty Images)
The US is ready to increase economic pressure on Russia. However, this requires the support of European allies, reports Alan Rappeport, Economic Policy reporter at The New York Times.
US Secretary of the Treasury Scott Bessent said in an interview that the US is ready to step up pressure on Russia, but there is a condition.
"We are prepared to increase pressure on Russia, but we need our European partners to follow us," the US Treasury Secretary said.
He added that imposing additional secondary sanctions and tariffs on countries that buy Russian oil could push Russia's economy into a "full collapse" and force Putin to come to the negotiating table.
Sanctions against Russia
Yesterday, Zelenskyy emphasized that Russia needs to be pushed toward peace. He said the key to this, in his view, is the combined efforts of Europe and the US, including sanctions and tariffs.
Additionally, on September 5, the Associated Press reported that a team of European officials will meet with US representatives this Monday. They plan to discuss various forms of economic pressure on Russia, including new sanctions.
A well-informed source cited by the media said that Treasury Secretary Scott Bessent has already discussed this with European Commission President Ursula von der Leyen.
Additionally, European Council President António Costa said at a joint press conference with President Zelenskyy in Uzhhorod that work on a new package of restrictions has already begun in Brussels. He added that the European team is heading to Washington to coordinate with American partners.
