US President Donald Trump on Tuesday warned that Russia could face severe economic punishment if President Vladimir Putin does not move toward peace talks with Ukrainian President Volodymyr Zelenskiy.
“It will not be a world war, but it’ll be an economic war, and an economic war is going to be bad. It’s going to be bad for Russia, and I don’t want that,” Trump told his cabinet during a meeting at the White House, reported Bloomberg. He said he had “very serious” consequences in mind if the conflict drags on, citing the war’s mounting human toll, which he said is claiming thousands of lives every week.
Trump came under renewed questioning about how much time he is prepared to give Putin before imposing the sanctions he has been threatening. “It’s very serious what I have in mind, if I have to do it,” he said.
Also Read: Trump’s 50% tariff shock hits India: New Delhi faces one of its toughest trade blows in years
Since taking office, Trump has pledged to end the war in Ukraine, even promising to do so on his first day. But the fighting has continued, with little sign of resolution despite a high-profile summit with Putin in Anchorage on August 15 that was widely billed as a possible breakthrough moment.
That meeting revived the prospect of direct talks between Putin and Zelenskiy, something that has not happened since Russia launched its full-scale invasion more than three years ago. Yet, more than a week later, no such meeting has been set. The White House said earlier it believed Putin had agreed to face-to-face talks and that preparations were under way, but Moscow has pushed back.
“This agenda is not ready at all,” Russian Foreign Minister Sergei Lavrov said in an interview with NBC on Friday, making clear that no concrete plan for a summit exists.
Trump has kept up pressure on Moscow, repeatedly warning of sanctions and other measures aimed not just at Russia but also at countries that continue to buy its oil and keep its war machine funded.
He has already approved a doubling of tariffs to 50% on Indian imports over New Delhi’s Russian oil purchases. But he has so far held back from extending similar measures against China and others still buying Russian crude.
Indian exporters are facing one of the toughest trade shocks in years as the United States on Wednesday officially imposed an additional 25% tariff on key goods from India, adding to an existing 25% duty and bringing the total US levy to 50%.
His frustration has grown as Russian attacks in Ukraine have continued, sometimes immediately after his calls with Putin. He also pointed a finger at Kyiv. “Zelenskiy’s not exactly innocent either,” Trump said, reviving past criticisms that the Ukrainian president has been ungrateful for US aid and unwilling to compromise.
“Everybody’s posturing,” Trump remarked when asked about Lavrov’s assertion that Putin would not sign a peace deal with Zelenskiy.
Trump floated the idea of a peace summit during an August 18 phone call with Putin. That proposal came just days after he hosted Zelenskiy and European leaders in Washington for talks on long-term security guarantees to underpin any eventual peace deal.
Zelenskiy, for his part, said on August 23 that he expects to present those guarantees, backed by the US and its European partners, “in the coming days.”
With inputs from Bloomberg
“It will not be a world war, but it’ll be an economic war, and an economic war is going to be bad. It’s going to be bad for Russia, and I don’t want that,” Trump told his cabinet during a meeting at the White House, reported Bloomberg. He said he had “very serious” consequences in mind if the conflict drags on, citing the war’s mounting human toll, which he said is claiming thousands of lives every week.
Trump came under renewed questioning about how much time he is prepared to give Putin before imposing the sanctions he has been threatening. “It’s very serious what I have in mind, if I have to do it,” he said.
Also Read: Trump’s 50% tariff shock hits India: New Delhi faces one of its toughest trade blows in years
Since taking office, Trump has pledged to end the war in Ukraine, even promising to do so on his first day. But the fighting has continued, with little sign of resolution despite a high-profile summit with Putin in Anchorage on August 15 that was widely billed as a possible breakthrough moment.
That meeting revived the prospect of direct talks between Putin and Zelenskiy, something that has not happened since Russia launched its full-scale invasion more than three years ago. Yet, more than a week later, no such meeting has been set. The White House said earlier it believed Putin had agreed to face-to-face talks and that preparations were under way, but Moscow has pushed back.
“This agenda is not ready at all,” Russian Foreign Minister Sergei Lavrov said in an interview with NBC on Friday, making clear that no concrete plan for a summit exists.
Trump has kept up pressure on Moscow, repeatedly warning of sanctions and other measures aimed not just at Russia but also at countries that continue to buy its oil and keep its war machine funded.
He has already approved a doubling of tariffs to 50% on Indian imports over New Delhi’s Russian oil purchases. But he has so far held back from extending similar measures against China and others still buying Russian crude.
Indian exporters are facing one of the toughest trade shocks in years as the United States on Wednesday officially imposed an additional 25% tariff on key goods from India, adding to an existing 25% duty and bringing the total US levy to 50%.
His frustration has grown as Russian attacks in Ukraine have continued, sometimes immediately after his calls with Putin. He also pointed a finger at Kyiv. “Zelenskiy’s not exactly innocent either,” Trump said, reviving past criticisms that the Ukrainian president has been ungrateful for US aid and unwilling to compromise.
“Everybody’s posturing,” Trump remarked when asked about Lavrov’s assertion that Putin would not sign a peace deal with Zelenskiy.
Trump floated the idea of a peace summit during an August 18 phone call with Putin. That proposal came just days after he hosted Zelenskiy and European leaders in Washington for talks on long-term security guarantees to underpin any eventual peace deal.
Zelenskiy, for his part, said on August 23 that he expects to present those guarantees, backed by the US and its European partners, “in the coming days.”
With inputs from Bloomberg
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