US President Donald Trump said he was "seriously considering" imposing broad sanctions and tariffs on Russia, including in the banking sector, until a ceasefire and peace agreement with Ukraine is reached, "Reuters".
Trump also suspended military aid and intelligence sharing for Ukraine to pressure Kiev to accept a ceasefire agreement after a dramatic Oval Office meeting with Ukrainian President Volodymyr Zelensky a week ago.
"Based on the fact that Russia is absolutely "breaking" Ukraine on the battlefield right now, I am strongly considering large-scale banking sanctions and tariffs on Russia until a final peace settlement and ceasefire is reached," Trump wrote on his Truth Social network. "To Russia and Ukraine, sit down at the table now before it's too late. Thank you!!!"
Later, during a press conference at the White House, when asked if he thought Russia was taking advantage of the situation the U.S. has put Ukraine in by cutting off military aid and intelligence, Trump replied:
"I think he's doing what anyone would do. I think he wants to stop it and he's hitting them harder than he's ever hit them, and I think anyone in his position would probably do the same. He wants to end it, and I think Ukraine wants to end it, but we'll see."
Asked why he didn't want to provide additional air defenses to Ukraine, given that it was being "crushed" by Russia, as he described it, and what would happen when Ukraine's resources were exhausted, Trump replied:
"Because I need to know for sure that they're willing to negotiate. I don't know if they want to negotiate. If they don't want to negotiate, we're leaving. Because we want them to negotiate."
Trump also said that he trusts Russian President Vladimir Putin and that he finds it harder to deal with Ukraine than he does with Russia.
"I've always had a good relationship with Putin. And you know, he wants to end the war," Trump said. "I think he's going to be more generous than he should be, and that's a very good thing. That means a lot of good things."
He also said he wanted to "make things right" with the war before discussing security guarantees
Trump has been criticized for his outlook on Ukraine, including his comment last month that Kiev, not Russia, was responsible for starting the war.
Trump's threat to impose sanctions and tariffs on Russia comes days after it was reported that the White House was considering a plan to potentially ease sanctions on Russia as part of the administration's push to end the war and improve diplomatic and economic relations with Moscow.
Russia, one of the world's largest oil producers, has been subject to thousands of sanctions imposed by the United States and partners since its invasion of Ukraine in February 2022.
The U.S. sanctions on Russia include measures aimed at curbing its oil and gas revenues, including a $60 per barrel cap on Russian oil exports.
In Washington's strictest measures yet Former President Joe Biden also imposed sanctions on Moscow against Russian energy companies and ships that transported its oil on January 10, followed by sanctions on 250 targets, including some based in China, to address Russia's evasion of earlier U.S. sanctions.
These measures include new sanctions on nearly 100 critical Russian entities - including banks and companies operating in the country's energy sector - that were previously sanctioned by the United States, increasing the risks of secondary sanctions.