Bessent Tells Russia There Is No Sanctions Relief While the War Continues

United States Treasury Secretary Scott Bessent met Russian Finance Minister Anton Siluanov on the sidelines of the Group of 20 finance meeting in Asheville, North Carolina. CNBC reported that Bessent told Siluanov no sanctions relief or new economic agreements are available while the war in Ukraine continues. RIA Novosti reported that the American side described the meeting as productive, a description that emphasizes that contact occurred rather than what was actually agreed. European delegations declined to engage with the Russian representatives at the same gathering.

The financial backdrop is a gradual decline rather than a collapse. TASS, citing the Bloomberg Billionaires Index, reported that the combined wealth of Russian businesspeople on the index fell by $19.77 billion since the start of 2026, with Mikhail Prokhorov recording the largest individual decline, down $6.45 billion to $10.1 billion.

The legislative threat Washington holds over Moscow has not moved forward. Kommersant, citing Politico, reported that the House of Representatives did not take up the sanctions bill already approved by the Senate, legislation named for its author, the late Senator Lindsey Graham, which would impose steep tariffs on countries that buy Russian energy. Keeping the bill available but unpassed preserves it as a negotiating tool in talks over the American peace plan.