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 readLast updated: February 5, 2026
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U.S. Treasury Secretary Bessent states further Russian sanctions hinge on Ukraine peace talks, with Kushner acting as envoy.
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 about Treasury's Bessent says further Russian sanctions depend on peace talks
1What 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.