The US Department of the Treasury has announced the preparation of new sanctions aimed at reducing the illegal revenues of the Russian Federation. According to Treasury Secretary Scott Bessent, the United States will continue to pressure Russia by implementing comprehensive economic restrictions, particularly in the energy sector.
This is reported by Finway
India Faces Losses Due to Western Sanctions
As a result of sanctions from the West, India is suffering significant losses, as it imports over a third of its oil from Russia. Additionally, the situation is affected by secondary sanctions, including a 25% tariff on Russian oil imports imposed by the US. The White House warns that similar tariffs may be applied to other countries that continue to purchase Russian energy resources. The Indian Ministry of External Affairs has strongly criticized these actions, calling them “unfair, unjustified, and unreasonable”, and promised to take “all necessary measures” to defend its interests.
“unfair, unjustified, and unreasonable” and promised to take “all necessary measures” to protect national interests.
New Sanctions Against Russia’s ‘Shadow Fleet’ and Increased Control
According to the Financial Times, the US administration may impose additional sanctions against the so-called ‘shadow fleet’ of the Russian Federation by Friday, August 8, if Vladimir Putin does not agree to cease hostilities in Ukraine. Such actions would logically follow the recent steps taken by the European Union, which has already imposed sanctions on over 100 vessels used by Russia to circumvent restrictions, bringing the total number of sanctioned vessels to 415.
The final decision by the US president will depend on the results of Special Envoy Steve Witkoff’s visit to Moscow. Among other pressure options, there is consideration of increasing control over the enforcement of existing sanctions, as well as the United States joining the EU initiative to set a price cap on Russian oil, which is planned to be implemented at the beginning of September. Washington also does not rule out the possibility of imposing secondary sanctions against banks and oil refineries in third countries that assist Russia in circumventing restrictions.