U.S. Treasury nominee Scott Bessent on Thursday faced sharp questions from both Democrats and Republicans on tax policy, tariffs, China, Russia sanctions and the future of an IRS tax filing system that Republicans have called to be cut.

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.

President-elect Donald Trump's pick for Treasury Secretary, Scott Bessent, said he "100%" supports raising sanctions on Russian oil producers if the future president requests doing so.

By Clyde Russell LAUNCESTON, Australia (Reuters) -"This time it's different" is a well-worn cliché that seems to be getting another whirl with the latest U.S. sanctions against Russia's crude oil exports.

The U.S. Treasury Department has targeted actors involved in a sanctions evasion scheme facilitating cross-border payments for sensitive goods between China and Russia as part of a new package of sanctions,

The US Department of the Treasury on Wednesday, 15 January, announced sanctions against new Russian schemes used to circumvent sanctions on military goods. Source: US Department of the Treasury in a statement,

Oil-freight derivatives trading surged to the highest in at least a decade as the Biden administration’s sanctions on Russia continued to propel supertanker rates higher.

Oil prices rose on Wednesday as the market focused on potential supply disruptions from U.S. sanctions on Russian energy companies and tankers carrying Russian oil. Brent crude futures were up 80 cents,