Bessent announced sanctions on Russia's two largest oil companies to cut funding for the war.
“Given President Putin's refusal to end this senseless war, Treasury is sanctioning Russia's two largest oil companies that fund the Kremlin's war machine. We encourage our allies to join us in and adhere to these sanctions.”
Bessent says Gulf oil production is five to ten million barrels daily even before Iran deal.
“even before we had the deal, we're getting out five, ten million barrels a day out of The Gulf.”