US Treasury Secretary Scott Bessent testified on Capitol Hill, facing questions about the Treasury's agenda, including waivers allowing countries to purchase oil from Russia.
Bessent stated that future waivers could be granted on a country-by-country basis, rather than across the board, citing the Russian Federation's limited revenue from the waivers.
Representative Brian Fitzpatrick, a Republican from Pennsylvania, asked Bessent to explain the rationale behind successive waivers exempting Russian seaborne oil from US sanctions amid the ongoing war in Ukraine.
Bessent defended his support for Ukraine, citing a visit to Kyiv in 2025, and criticized the Biden administration for not being tougher on Russia.
He also acknowledged the potential for additional waivers, but emphasized the need for economic sanctions to deter Russian aggression.
