Bessent, who participated in talks with Russian officials and President Donald Trump’s envoy Steve Witkoff and Trump’s son-in-law Jared Kushner in Miami on Saturday, said he would consider new sanctions against Russia’s shadow fleet – a step Trump has not taken since returning to office in January 2025.

“I will take it under consideration. We will see where the peace talks go,” Bessent said at a Senate Banking Committee hearing.

He said the Trump administration’s US sanctions against Russian oil majors Rosneft and Lukoil had helped bring Russia to the negotiating table in the peace talks.

Asked what role Kushner was taking in the Russia talks, Bessent said that he believed President Trump’s son-in-law was acting as a special envoy and an interlocutor in the talks

Democratic Senator Andy Kim said the involvement of Trump family members without official positions could raise conflicts of interest.