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ARTICLE · 27 FEBRUARY 2025

Weekly Sanctions Update: February 24, 2025

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The Sanctions Update is compiled by Steptoe's International Trade and Regulatory Compliance team and Steptoe's Strategic Risk team.

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Steptoe LLP
Steptoe LLP

The Sanctions Update is compiled by Steptoe's International Trade and Regulatory Compliance team and Steptoe's Strategic Risk team. You can subscribe to receive the Sanctions Update every week through Steptoe's International Compliance Blog and Stepwise Risk Outlook publication home pages.

For more information or advice on any of the developments discussed below, please contact a member of our sanctions team here.

US Developments

Bessent Says Trump Administration May Alter Russia Sanctions to End the War in Ukraine

Secretary of the Treasury Scott Bessent recently stated in an interview that the US is prepared to either rollback or increase sanctions on Russia, depending on how talks to end the war in Ukraine proceed. Bessent added that Trump is "committed to ending this conflict very quickly." Relatedly, Bessent said that Ukrainian President Volodymyr Zelenskyy had not yet committed to sign a proposed minerals deal, which in Bessent's words would be part of

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