Europe must take lead in strengthening G7’s economic pressure on Russia, - Bessent
US Treasury Secretary Scott Bessent has stated the importance of "increased G7 economic pressure against Russia," in order to hasten the end of the war. And Europe must lead this pressure.
According to Censor.NET, this is stated in Bessent's post on X.
"I underscored America’s commitment to a lasting, durable peace in Ukraine," Bessent noted after meeting with European Commissioner Valdis Dombrovskis.
He called on Europe to take the lead in strengthening the G7's economic pressure on Russia.
Bessent also emphasised the need for a unified global response to "China’s reckless imposition of export controls", and the importance of diversified supply chains.
He added that the US and its allies must "stand united against China's destabilising actions" and work to strengthen the sustainable supply of critical goods.
Economic pressure on Russia
The depletion of Russia's resources and economic pressure on the aggressor country may force Moscow to sit down at the negotiating table, said Finnish President Alexander Stubb. He stressed that Russia's economy is in a difficult situation: the country's reserves are depleted, economic growth is approaching zero, and inflation is reaching 10-20%.
British Prime Minister Keir Starmer called for increased economic pressure on Russia, in particular through new sanctions, especially in the energy sector and against the shadow fleet.
Russia's military budget in 2026 will decrease for the first time since the start of the full-scale invasion of Ukraine. This indicates that the Kremlin has reached the limits of its ability to finance the war amid growing economic pressure.
