U.S. Treasury Secretary rules out sanctions relief to Russian minister at G20 — Reuters

U.S. Treasury Secretary Scott Bessent ruled out any potential sanctions relief for Russian Finance Minister Anton Siluanov at the G20 meeting on September 1, stating that economic relief would not be granted until the war against Ukraine concludes. The tense face-to-face discussion unfolded as European officials expressed deep dissatisfaction with Russia's attendance at the G20 summit following its full-scale invasion of Ukraine.

Initially, the primary focus of the talks was reportedly U.S. President Donald Trump's peace plan for Ukraine, although the Russian Finance Ministry claimed the conversation centered on financial cooperation within the G20. When Siluanov tried to shift the discussion towards mutually beneficial topics, Bessent interrupted him, asserting that no agreements could be reached before the war's end.

The U.S. had imposed extensive sanctions on major Russian oil corporations in October 2025, and later energy supply disruptions caused by U.S.-Israeli military strikes against Iran and tightened Strait of Hormuz traffic led Bessent to permit the sale of stranded Russian crude. Despite the waiver's intention to stabilize global energy supplies, it generated revenue for the invading state.

On August 31, Bessent reportedly met his Russian counterpart at the G20 summit in Asheville to discuss Trump's Ukraine peace framework. European allies vehemently objected to Russia's presence at the summit, with German Finance Minister Lars Klingbeil telling Siluanov directly that Moscow must cease its war against Ukraine. European delegates also refused to pose for photos with the Russian delegation, resulting in an official family photo that excluded Russian representatives completely.