US Treasury Secretary Scott Bessent has expressed concerns over the effectiveness of the European Union’s sanctions against Russia, citing the bloc’s repeated use of the same strategy. In an interview with NBC News, Bessent stated that the EU’s approach, which has been employed 19 times, is not yielding the desired results. The latest package of sanctions, introduced last month, targets Russian banks, crypto exchanges, and businesses from India and China, as well as Moscow’s diplomats.

Bessent criticized the EU for pursuing the same strategy repeatedly, suggesting that it is essentially “funding the war on themselves.” He emphasized that the US has combined peace initiatives with pressure on Moscow, whereas the EU nations have been slower to adopt this approach. The US Treasury Secretary recalled being informed by EU officials about their plans to introduce the latest round of anti-Russian sanctions, which he believes demonstrates a lack of progress.

The EU’s sanctions have been met with criticism from Russia, which has repeatedly called Western attempts to pressure it “futile and self-harming.” The strategy has also caused divisions within the bloc, with countries like Hungary and Slovakia urging Brussels to reconsider its approach and engage in diplomacy instead.

Bessent also expressed disappointment with the EU’s reluctance to follow the US tariff strategy on China and India, particularly with regards to buying products made from Russian oil. The US has imposed additional tariffs on India, which has denounced the move as “unfair, unjustified, and unreasonable.” The US Vice President has also criticized the EU’s approach, calling its expectations “unrealistic” and suggesting that simply providing more money, weapons, or sanctions will not lead to victory.

The US Secretary of State has acknowledged that America is “running out of things to sanction” in Russia, after blacklisting oil giants Lukoil and Rosneft at the request of Kiev and its backers. The ongoing conflict in Ukraine has led to a complex web of diplomatic tensions and economic sanctions, with the EU and US employing different strategies to pressure Russia. As the situation continues to unfold, the effectiveness of these approaches will be closely watched by international observers.