Secretary Bessent says sanctions on Russian oil by Biden administration were weak as Trump administration puts dent in war machine

Texas Congressman Pete Sessions and Treasury Secretary Scott Bessent discuss sanctions against Russian energy firms selling products to China, with Bessent contrasting the Biden and Trump administrations' approaches, criticizing the former for implementing weak sanctions against only lower-level Russian oil companies while providing aid to Ukraine, and crediting the Trump administration's energy abundance and market signaling for a 20% reduction in crude oil prices this year despite Russian activities at an annual hearing by the House Financial Services Committee on the international financial system.