Jeremy Paner Discusses Implications of Increased US Sanctions on Russia

Oct. 22, 2025 – Jeremy Paner discussed the implications of the United States’ “substantial” new round of sanctions against Russia in the Associated Press, Bloomberg, Financial Times, Global Investigations Review and Reuters, as well as on BBC News, following President Donald Trump backing off plans for a meeting with Russian President Vladimir Putin in the near future.

In the Bloomberg article, Paner discussed how the announcement previewed by U.S. Treasury Secretary Scott Bessent is “the first signal from the Trump administration through action as opposed to rhetoric” that the U.S. expects other countries including China and India to stop buying Russian oil.

“Once the summit in Hungary was called off, Trump likely feels like he lost his leverage so he feels like this would further get Putin’s attention — but in the end it all comes down to the Chinese and Indian response,” Paner said.

Speaking to Reuters, Paner echoed a similar sentiment saying the absence of banks and Indian or Chinese oil purchasers in Wednesday's sanctions "will not get Putin’s attention."

Paner furthered highlighted how these sanctions are the starting point for the Office of Foreign Assets Control when speaking with the Financial Times.

“It’s a necessary first step to enabling OFAC to threaten the Indian and Chinese banks that are moving Russian oil money because it triggers the ability to impose the kinds of sanctions that these banks are actually most concerned about,” Paner said.

In the Associated Press, Paner outlined the possible next steps for the Trump administration, including targeting Indian and Chinese purchasers of Russian oil, or going after middlemen and brokers of Russian energy, as they look to increase pressure on Russia and incentivize a peace deal in Ukraine.

“The goal of these sanctions isn’t to stop the war, it’s to get serious commitment to engaging in the peace process,” Paner said.

Paner also discussed the impact of the sanctions for multinational companies, who now need to adapt to a much broader type of enforcement, in Global Investigations Review.

“Now it’s simple. It’s a one-page memo, not a ten-page memo, explaining the risks,” he said.

According to Paner, financial institutions that facilitate transactions between oil transportation, trading, storage or management firms and sanctioned companies like Rosneft or Lukoil are the most at risk for additional penalties.

“That has this magnifying effect, because every bank has to be concerned about this in ways they haven’t before,” Paner said.

Read the Associated Press, Bloomberg, Financial Times, Global Investigations Review and Reuters articles.