Story perspectives

Bessent Rejects Ukraine Peace Plan Until Russia Ends War

9/1/2026

Summary

Bessent Denies Relief

Treasury Secretary Scott Bessent told Finance Minister Anton Siluanov there will be no relief until Russia ends Ukraine war.
The meeting on the G20 summit sidelines in Asheville, North Carolina, focused on President Donald Trump's Ukraine peace plan.
It was Siluanov's first G20 appearance since Russia invaded Ukraine, prompting irritation from European officials.
Bessent issued licenses for seaborne Russian oil sales after Hormuz supplies were cut, sending revenue to Moscow.

Summary

US Sanctions

Russia offered a $12 trillion economic cooperation package to the United States.
The United States created a Ukraine Reconstruction Investment Fund that bars firms assisting Russia’s war effort.
Targeted sanctions focus on Rosneft and Lukoil as primary pressure points against Moscow.
Analysts warn the sanctions stance keeps the geopolitical risk premium high, sustaining energy price volatility.
Investors are advised to overweight defense and global energy stocks, underweight European equities.

History

Historical Context

On 6 August 1990 the UN Security Council adopted Resolution 661, imposing sanctions on Iraq after its invasion of Kuwait. The regime, eased by the 1995 Oil-for-Food Programme that permitted $2 billion of oil sales every six months, stayed in force until 22 May 2003. In 2024 G20 talks, U.S. Treasury Secretary Scott Bessent urged Russian Finance Minister Anton Siluanov for sanctions relief.

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Bessent Denies Relief

Treasury Secretary Scott Bessent told Finance Minister Anton Siluanov there will be no relief until Russia ends Ukraine war.
The meeting on the G20 summit sidelines in Asheville, North Carolina, focused on President Donald Trump's Ukraine peace plan.
It was Siluanov's first G20 appearance since Russia invaded Ukraine, prompting irritation from European officials.
Bessent issued licenses for seaborne Russian oil sales after Hormuz supplies were cut, sending revenue to Moscow.

1 / 3