Bessent tells Russia's Siluanov: no economic relief until war in Ukraine ends

US Treasury Secretary Scott Bessent made clear to Russian Finance Minister Anton Siluanov that Washington will not offer Moscow any economic relief while the war against Ukraine continues, according to sources cited by Politico and Reuters.

The meeting's central topic was President Donald Trump's plan to end the war in Ukraine. Per the sources, Bessent told Siluanov the US would withhold economic relief until the fighting stops, though it remains unclear whether he specifically meant loosening sanctions. When Siluanov tried to raise other topics of interest, Bessent reportedly cut him off, saying nothing was possible until the war ended.

Differing accounts of the meeting

US Treasury Undersecretary for International Affairs Erin Browne described the talks to Politico as productive, saying the two officials discussed Trump's plan for peace and economic growth. According to her, Bessent told Siluanov that the war needs to end.

Russia's Finance Ministry, in a brief statement released on the evening of August 31, said the sides had discussed issues of Russian-American cooperation on the financial track as well as cooperation within the G20 framework.

First such appearance since the invasion began

The meeting took place in Asheville, North Carolina, on the sidelines of a G20 summit of finance ministers and central bank governors. It marked the first time Russia's finance minister had attended a G20 summit since the start of Russia's full-scale invasion of Ukraine. Siluanov's visit had not been announced beforehand.