US energy chief says sanctioning Russian oil to end Ukraine war a possibility
WASHINGTON, July 22 (Reuters) - U.S. Energy Secretary Chris Wright said on Fox News on Tuesday that sanctioning Russian oil to end the Ukraine war is a "very real possibility."
President Donald Trump said this month that Washington could put 100% tariffs on buyers of Russian oil and impose other sanctions if Moscow does not agree to a major peace agreement with Ukraine, a deadline that ends in early September.
"It is huge pressure on Russia," Wright said in an interview on Fox News' "Special Report with Bret Baier."
"That's the biggest pressure you can put on them," Wright said.
The U.S. is the world's top producer of oil and gas, a position Wright said means the U.S. can take action that was previously unthinkable.
"We're able to do things that we couldn't do before," he said.
Despite that position, the Trump administration has not yet put major oil sanctions on Russia, preferring to impose them on OPEC producer Iran since the president took office for a second time in January.
Related Articles
Effects of Interest Rate Cuts: Impact of Fed's September Meeting on Crypto Market
The Fed’s rate cut decision is a major bullish catalyst for crypto — but it comes with uncertainty. Investors should understand the economic rationale behind the move and adjust strategies accordingly. Staying flexible, informed, and disciplined is key to thriving in crypto’s fast-moving environment
September Global Central Bank Divergence: How Will U.S. Stocks and Forex Markets Move?
TradingKey - Despite the divergence in monetary policies among major global central banks in September (with the Federal Reserve cutting rates while the European Central Bank, Bank of England, and Bank of Japan maintain steady rates), we expect the policy directions of the Fed, ECB, and BoE to...
U.S. September Rate Decision Preview: What It Means for Bitcoin and Could It Spark a New Rally?
Bitcoin’s rally stalls ahead of the Fed meeting — has the bullish momentum already been priced in?
Japan Q2 GDP Commentary: Growth Revised Upward, Yen May Rise
TradingKey - On 8 September 2025, Japan released the revised Q2 GDP figures. The data showed that real GDP grew by 0.5% quarter-on-quarter, surpassing market expectations of 0.3% and the previous quarter’s 0% growth.
Fed to Cut Rates: All Asset Prices Up!
TradingKey - The Federal Reserve is almost certain to restart its interest rate cut cycle on 17 September this year. After in-depth research, we have concluded that cryptocurrencies, the broader U.S. stock market, and short-term U.S. Treasury bonds will all go up.
