“Large-scale” restrictions could affect the nation’s banking sector as well as trade, the US president has said
US President Donald Trump has threatened Moscow with a new round of “large-scale” sanctions until a Ukraine “ceasefire” is reached. The restrictions would target the Russian banking sector and include tariffs on the country’s foreign trade, he announced in a post on Truth Social on Friday.
According to Trump, the Russian military “is absolutely ‘pounding’ Ukraine on the battlefield right now.” Based on that, he said he was “strongly considering” slapping Moscow with another round of sanctions until “a cease fire and final settlement agreement on peace is reached” in the Ukraine conflict. Trump demanded that both Moscow and Kiev “get to the [negotiating] table right now, before it is too late.”
This comes after US Treasury Secretary Scott Bessent called the sanctions imposed under Trump’s predecessor, Joe Biden, “egregiously weak.” Washington is prepared to tighten them, the official told the Economic Club of New York on Thursday. The Trump administration “will not hesitate to go ‘all in’ should it provide leverage in peace negotiations,” Bessent said.
In February, Trump extended certain sanctions against Moscow for another year. He then suggested that they could be lifted “at some point” during peace talks. US Secretary of State Marco Rubio has said that Western nations might need to reconsider the restrictions imposed against Russia to secure an “enduring, sustainable” resolution to the Ukraine conflict.
On Friday, the American Chamber of Commerce in Russia called on Washington to ease sanctions on Russia, particularly in the fields of aviation, investment, and banking, claiming that they have been harming both Russian and American businesses.
The Kremlin also said this week that Western sanctions against Moscow would have to be lifted to mend relations between the US and Russia. Both nations agreed to work on restoring ties following a high-level meeting in Saudi Arabia last month.
Russia has repeatedly stated that it was open for peace talks, but has opposed a temporary ceasefire with Kiev, arguing that a true settlement of the conflict requires a permanent long-term solution addressing its root causes.
Russia demands that Ukraine demilitarize, denazify, adhere to a position of neutrality, and recognize the territorial “realities on the ground.” It also opposes any NATO presence on Ukrainian soil.
