Trump's Treasury pick Bessent says heavier Russia sanction coming, no reason for digital currency

                                                               Watchlive

Scott Bessent, Trump's Treasury secretary nominee, testified before the Senate Finance Committee on Thursday, advocating for stronger sanctions on Russia and rejecting the idea of a U.S. digital currency.

Key Testimony Highlights

• Committed to imposing tougher sanctions on Russia's oil sector
• Criticized Biden administration's current sanctions as "not muscular enough"
• Pledged to support sanctions that would "bring the Russian Federation to the table"

Additional Positions

• Supports maintaining the dollar as the world's reserve currency
• Advocates for Federal Reserve independence
• Opposes creating a U.S. digital currency
• Warns of potential economic "calamity" if Trump's 2017 tax cuts are not extended

Bessent emphasized that if confirmed, he would be "100% on board" with escalating sanctions on Russian oil majors as part of a strategy to resolve the Ukraine conflict.