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US Treasury Secretary Scott Bessent announced potential new sanctions and tariffs against Russia, aiming to pressure Vladimir Putin into peace talks with Ukraine. Bessent emphasized the need for European cooperation in escalating economic pressure on Russia. Discussions with European officials, including President von der Leyen, are underway to coordinate further actions. The hope is that a severe economic downturn in Russia will force Putin to negotiate.

Prepared by Lauren Mitchell and reviewed by editorial team.