Allies coordinate economic measures to target Moscow’s revenue streams
WASHINGTON, Sept 9 — Amid an escalation of Russian strikes on Ukrainian territory, officials from the United States and European Union met in Washington to discuss strengthened sanctions aimed at reducing Moscow’s financial and energy capabilities. The discussions highlighted the importance of a coordinated approach to pressure the Kremlin.
The session, held at the U.S. Treasury Department, brought together Treasury Secretary Scott Bessent and EU Sanctions Envoy David O’Sullivan. Delegates focused on further restrictions on Russian oil exports and refining operations, crucial sources of funding for the Russian government, emphasizing the need for a unified strategy across the Atlantic.
Trump Signals Expanded Sanctions Targeting Global Buyers
President Donald Trump, participating remotely, indicated that the U.S. may initiate a “second phase” of sanctions. This phase could impose penalties on nations such as India and China that continue to purchase Russian oil, aiming to cut off indirect revenue streams supporting Moscow’s military campaign.
EU Prepares 19th Sanctions Package
Simultaneously, the European Union is preparing its 19th round of sanctions, set to focus on Russian banks and energy companies. The package is designed to further limit Russia’s access to international finance and constrain its energy exports, reinforcing the impact of coordinated Western measures.
Escalating Attacks Highlight Urgency
The meetings came in the wake of a major Russian offensive that deployed over 800 drones and 13 missiles across more than 30 Ukrainian locations. The attacks inflicted significant damage on infrastructure and caused numerous casualties, prompting Ukrainian President Volodymyr Zelenskyy to call for increased international sanctions and support.
Looking Ahead
The coordinated U.S.-EU strategy underscores a commitment to leveraging economic pressure in response to Russia’s intensified aggression. While the effectiveness of the measures will depend on international compliance and enforcement, the talks signal a more unified and determined Western stance amid the ongoing conflict.
