What did US Treasury Secretary Scott Bessent say about the nature of future waivers for Russian oil purchases?

"My strong inclination is that if there are further waivers, that they will be country-specific and not generalized," Bessent said during testimony before the House Ways and Means Committee. He explained that such targeted waivers would allow oil to flow to specific US allies rather than broadly, and noted that "The Russian Federation has seen very little incremental revenue because of the waivers. Their oil was always going to China, and now the oil can go to our allies."

Why did Representative Brian Fitzpatrick challenge Treasury Secretary Bessent on the waiver policy?

Fitzpatrick challenged Bessent to explain the rationale behind successive waivers exempting Russian seaborne oil from US sanctions amid the war in Ukraine, emphasizing bipartisan concern that Russia’s aggression must not be normalized or rewarded; he referenced legislation he co-introduced proposing 500% tariffs on Russian imports and on nations aiding Russia’s war effort, and stressed that "it’s pretty much universally accepted that the only deterrent to Putin is strangling economic sanctions that put economic pressure on the domestic agenda, domestic population."

Bessent Says US Could Grant Country-Specific Waivers for Russian Oil

Jun 4, 2026

US Treasury Secretary Scott Bessent indicated future waivers for Russian oil purchases may be granted on a country-specific basis to maximize economic pressure on Moscow. He addressed concerns regarding sanctions and potential tariffs during congressional testimony.

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