Since the beginning of Russia’s war with Ukraine, countries have sanctioned Russia in support of Ukraine, but President Donald Trump implied there is a loophole that allows some countries to benefit their energy industries.

“Europe has spent more money buying Russian Oil and Gas than they have spent on defending Ukraine —BY FAR!” Trump wrote on Truth Social Monday.

Bessent explained on Fox News’s Fox and Friends on Tuesday that these purchases aren’t happening through third parties since Russian energy is sanctioned by almost every country.

“That’s the pre-existing net gas and things like that. Those are the pipeline. You can buy Russian energy as long as they are adhering to the price cap,” Bessent said.

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The United States has contributed more financially to Ukraine’s war effort than any other country. Former President Joe Biden assured Ukraine another $425 million in aid from the U.S. in October 2024, bringing the total given by the U.S. to $59 billion.

Trump said he is “in serious discussions with President Vladimir Putin concerning the ending of the War, and also major Economic Development transactions which will take place between the United States and Russia.”