Having served as the US Secretary of the Treasury from 2017 to 2021, Steve Mnuchin stated that the US needed to broaden financial restrictions and impose additional sanctions to prevent Russia and Iran from obtaining oil revenues.
According to Steve Mnuchin, the sanctions imposed on Russia because of its invasion of Ukraine have not achieved desired goals. Emphasizing the need to take more decisive measures, Mnuchin noted the following, “Russia is selling plenty of oil and gas.”
Moreover, Mnuchin suggested that the US and Middle East countries should boost their oil production to alleviate the problem of the reduced supply of gas and oil from Iran and Russia. It will assist in stabilizing energy prices and mitigate the effects of supply shortages.
