Treasury Secretary nominee Scott Bessent said he would support hiking sanctions against Russia if President-elect Donald Trump directs him to do so and accused President Joe Biden of playing politics on sanction policy.

Scott Bessent, Donald Trump's nominee for Treasury Secretary, said during a confirmation hearing Thursday that he is "perplexed" that the Biden administration did not impose more sanctions and tariffs on Russia's economy.

The US Senate has confirmed Scott Bessent as the head of the Department of the Treasury. The candidate secured votes from most of the chamber, including 23 Democrats. Bessent, a well-known financier,

Scott Bessent, tapped by Donald Trump to be treasury secretary, faced sharp questions from Democrats and Republicans on tax policy, tariffs, China, Russia sanctions and the IRS.

President-elect Donald Trump’s pick for Treasury secretary testified Thursday before the Senate Banking Committee.

Treasury secretary nominee Scott Bessent told senators Thursday he would be “100 percent on board” with increasing sanctions on Russia’s major oil companies if President-elect Trump supports that

U.S. Treasury nominee Scott Bessent plans to say at his confirmation hearing that President-elect Donald Trump has an opportunity to unleash “a new economic golden age.”

Scott Bessent faced questioning by lawmakers from the Senate Finance Committee earlier Thursday as part of his confirmation hearing as a Trump Cabinet nominee. With President-elect Donald Trump's proposed tariff policies making waves ahead of his re-entry into the White House,

Bessent, 62, is a longtime hedge fund manager, Trump donor and adviser. He'll be the point person for Trump on a host of key economic issues.

Scott Bessent, U.S. President-elect Donald Trump's nominee to be secretary of treasury, looks on as he sits near his son Cole, on the day he testifies during a Senate Committee on Finance confirmation hearing on Capitol Hill in Washington, U.S., January 16, 2025. REUTERS/Kevin Lamarque

Scott Bessent's nomination hearing gave markets a handful of hints ... Sanctions could get stronger Bessent voiced support for intensifying sanctions on Russia and Iran. Sanctions on Russia, in particular, have not been "fulsome," Bessent said, suggesting ...

U.S. President-elect Donald Trump's nominee for Treasury secretary said on Thursday that the dollar should continue to be the world's