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Donald Trump has warned Russia of potential “large scale” sanctions and tariffs, as the US president intensifies pressure on Moscow to negotiate a peace agreement in Ukraine.
Trump’s remarks on Friday come amid a de-escalation of tensions with Ukraine’s President Volodymyr Zelenskyy following a recent public dispute at the White House, which resulted in the US suspending military aid and intelligence support to Kyiv.
US and Ukrainian officials are scheduled to convene next week in Saudi Arabia for discussions.
“Given the fact that Russia is currently ‘pounding’ Ukraine on the battlefield, I am seriously considering significant Banking Sanctions, Sanctions, and Tariffs on Russia until a Cease Fire and FINAL SETTLEMENT AGREEMENT ON PEACE IS REACHED,” Trump stated on his Truth Social platform.
“To Russia and Ukraine, come to the negotiating table immediately, before it’s too late. Thank you!!!” he added.
Trump has faced backlash from US allies and domestic lawmakers, including some Republicans, regarding his disagreements with Zelenskyy. There are growing concerns that the White House is relinquishing all leverage to Russia even before direct negotiations commence between Moscow and Kyiv.
White House officials had previously indicated sanctions against Russia to encourage President Vladimir Putin to engage in negotiations, but the US president reiterated that message emphatically on Friday.
Details about the proposed sanctions and tariffs on Russia have not been disclosed by the White House.
Russia continues to face comprehensive sanctions enforced by former president Joe Biden, which target its financial services, defense, and energy sectors. The US has also imposed sanctions on top Russian business leaders and oligarchs.
However, Trump’s officials argue that Biden’s sanctions have been ineffective, particularly regarding Russia’s crucial energy sector.
“A key issue that has allowed the Russian war machine to sustain financing was the Biden administration’s alarmingly weak sanctions on Russian energy,” stated Scott Bessent, the US Treasury secretary, at the Economic Club of New York on Thursday.
He suggested that the Biden administration had been reluctant to impose stricter sanctions due to concerns about rising US energy prices during an election cycle.
“What was the purpose of significant US military and financial support over the past three years, without an accompanying rigorous sanctions strategy?” he questioned.
The White House has previously hinted at the possibility of lifting sanctions on Russia in exchange for a peace deal with Ukraine, and officials have even mentioned potential business opportunities for US investors in Russia if an agreement is finalized.
Higher tariffs on Russian imports will have a minimal effect since trade between the two nations has significantly dwindled in recent years. The US trade representative’s office reported that US goods imports from Russia amounted to $3bn in 2024.
