Bessent told Russian finance minister no economic relief until Ukraine war ends, source says - Reuters

U.S. Treasury Secretary Scott Bessent told Russia’s finance minister that no economic relief would be offered until the war in Ukraine ends, according to a source cited by Reuters. The conversation underscores Washington’s position that sanctions pressure will remain in place while hostilities continue, with no signal of near-term exceptions.

The statement carries direct relevance for global commodity and risk markets. Since the start of the war, Western sanctions have constrained Russian energy exports, contributing to supply concerns and supporting elevated prices for oil and gas. Any prolonged absence of relief suggests that these supply-side frictions are likely to persist, maintaining a geopolitical risk premium in energy trading. Conversely, earlier hopes for a diplomatic breakthrough had occasionally led to temporary easing in such premiums.

For now, markets will focus on whether the report receives official confirmation or evolves into concrete policy shifts. The lack of immediate relief measures indicates continued uncertainty around supply chains and energy pricing. This development serves as a reminder that geopolitical policy remains a central, unpredictable factor in the outlook for commodities and broader investor sentiment.