US Treasury Secretary Scott Bessent stated that the recent sanctions from Washington against Russia will quickly affect the Russian economy and may force the Russian authorities to initiate negotiations. He expressed this opinion while commenting on the statement made by the special representative of the Russian Federation, Kirill Dmitriev, who claimed that the US sanctions “will have no impact on the Russian economy.”
This is reported by Finway
“It is oil that finances the Russian military machine, and I believe we can significantly reduce the revenues from it,” Bessent noted.
Decline in Oil Revenues and the Impact of Sanctions
According to Bessent, Russia’s oil export revenues have already decreased by 20% compared to 2024, and there is a likelihood of a further decline of 20-30%. At the same time, one-third of Russia’s oil exports are currently at risk, as a significant number of Greek tanker companies are no longer cooperating with Russian oil companies due to the new restrictions imposed by the US. Previously, Greek tankers transported between 10 to 20 million barrels of Russian oil each month, but by the end of October, this volume had dropped to a minimum level.
Panic in the Kremlin and Fear of a Coup
International analysts note that the economic situation in Russia is becoming increasingly critical. In particular, the Chatham House think tank emphasizes that for the first time in 3.5 years of war, Russia is experiencing real economic pressure. This has led to a rise in panic within the Kremlin, and Putin’s inner circle is actively seeking ways to maintain power, including through discrediting the opposition and attempts to convince the population that the West aims to divide the country. There are also reports of growing concerns from Putin regarding a potential coup amid the intensifying economic crisis.