US Treasury Secretary Scott Bessent is convinced that the new restrictions imposed by Washington will quickly impact Russia’s economy. In his opinion, this could become a decisive factor that forces Putin to come to the negotiating table.
This is reported by Business • Media
Impact of Sanctions on Russia’s Oil Sector
Scott Bessent emphasized that oil exports are the primary source of funding for Russia’s military machine. He pointed out that Russia’s oil revenues have already fallen by 20% compared to 2024, and this trend may worsen – reductions could reach another 20-30%. Particularly significant is the fact that Greek tanker companies, which previously transported between 10 to 20 million barrels of Russian oil each month, are massively withdrawing from cooperation due to the updated US sanctions. By the end of October, transportation volumes had dropped to a minimum level, and a third of Russian oil exports were under threat.
“It is oil that finances the Russian military machine, and I believe we can significantly reduce revenues from it,” Bessent noted.
Escalation of the Political Crisis in the Kremlin
Against the backdrop of the deteriorating economic situation in Russia, signs of political instability are becoming increasingly apparent. According to the British think tank Chatham House, panic is growing in the Kremlin, and Putin himself fears a possible coup.
Analysts note that for the first time in over three years of war, Russia is experiencing real economic pressure. Putin’s inner circle is trying to discredit the opposition, aiming to create the impression that the West is attempting to divide the country.