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U.S. President Donald Trump said Friday that he is considering imposing “large-scale” sanctions on Russia in response to its intensified attacks against Ukraine.
“I am strongly considering large-scale Banking Sanctions, Sanctions, and Tariffs on Russia until a Cease Fire and FINAL SETTLEMENT AGREEMENT ON PEACE IS REACHED,” Trump wrote on Truth Social.
“To Russia and Ukraine, get to the table right now, before it is too late,” he added, citing Russia’s ongoing bombardment of Ukraine.
Trump’s announcement came hours after the Russian military launched an overnight missile and drone attack on Ukraine’s energy and gas infrastructure.
National Economic Council Director Kevin Hassett later suggested that Trump’s threat was part of a diplomatic strategy.
“President Trump is adamant that we need to get everybody to the table. And we could do that with carrots, and we can do that with sticks. And he's talking to everybody,” Hassett told reporters.
The threat of fresh sanctions against Russia sent the Moscow Stock Exchange (MOEX) down more than 1%, closing at 3,176 as of 6 p.m. Moscow time.
Since taking office in January, Trump has sought to bring a rapid end to Russia’s three-year war on Ukraine. However, he has yet to lay out a concrete plan for how he intends to broker a peace settlement between the two warring sides.
At the same time, Trump’s relationship with Ukrainian President Volodymyr Zelensky has grown increasingly strained, culminating in a tense White House meeting last Friday, during which the U.S. president said Ukraine was “gambling with WWIII.”
Following that meeting, Washington halted military aid and intelligence sharing with Kyiv in response to its refusal to sign a minerals deal and has accused Ukraine of instigating the war.
Meanwhile, Trump has sought to restore ties with Russia and arrange a meeting with President Vladimir Putin to push for peace talks. Putin, however, dismissed the idea of making concessions.
“We’re not going to do that,” the Kremlin leader said Thursday after a fallen soldier’s mother urged him to “see it through” on the battlefield in Ukraine.
“We must choose a peace that suits us and ensures long-term security for our country. We don’t need anyone else’s, but we won’t give up ours,” Putin said.
AFP contributed reporting.
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