The United States has expressed frustration with Russia following Moscow’s largest-ever aerial assault on Ukraine, prompting the US administration to consider tougher sanctions to cripple the Russian economy.
US President Donald Trump confirmed his willingness to ramp up sanctions against Moscow, stating, “Yeah, I am,” without elaborating on the specifics of the potential measures.
The recent barrage of drone and missile attacks on Ukraine killed at least four people, including an infant, and set fire to the government complex housing Ukraine’s cabinet.
According to the Ukrainian Air Force, Russian forces launched at least 810 drones and 13 missiles during the assault, marking the most significant single barrage since the war began.
US Treasury Secretary Scott Bessent said tougher sanctions, including secondary measures targeting buyers of Russian oil, could bring Russian President Vladimir Putin to the negotiating table.
“We are prepared to increase pressure on Russia, but we need our European partners to follow us,” Bessent stated. “We are in a race now between how long can the Ukrainian military hold up versus how long can the Russian economy hold up.”
Bessent further emphasized that if the US and EU implement additional sanctions, including secondary tariffs on countries buying Russian oil, “the Russian economy will be in full collapse”.
Ukrainian President Volodymyr Zelenskyy welcomed the prospect of penalties on states still doing business with Moscow.
In an interview with newsmen, Zelenskyy said, “I’m very thankful to all the partners, but some of them, I mean, they continue [to] buy oil and Russian gas, and this is not fair… I think the idea to put tariffs on the countries that continue to make deals with Russia, I think this is the right idea.”
The US envoy to Ukraine, Keith Kellogg, condemned the recent attack, stating it was “not a signal that Russia wants to diplomatically end this war”.
Trump has repeatedly threatened to increase pressure on Russia as he struggles to deliver on promises to end the war quickly.
Despite the ongoing conflict, Trump has been pushing for a diplomatic resolution. Last month, he hosted Putin in Anchorage, Alaska, to discuss an end to the war, followed by a meeting with Zelenskyy and European leaders in Washington, DC.
However, little progress has been made towards a peace deal, with Moscow and Kyiv remaining far apart on key issues and Russia persisting in its bombardment of Ukrainian cities.
The proposed sanctions on Russia could significantly impact its economy, especially if secondary measures targeting buyers of Russian oil are implemented.
US Treasury Secretary Scott Bessent believes these sanctions could bring Russian President Vladimir Putin to the negotiating table.
The Russian economy might face substantial challenges, including potential collapse, if the US and EU implement additional sanctions.
A potential sanctions package includes several key measures. Secondary tariffs, such as a 500% tariff on imports from countries buying Russian oil, petroleum products, natural gas, or uranium, could be imposed. Restrictions on Russian energy and banking systems would likely have a significant impact on the country’s economy.
A ban on Russian government bonds would prohibit US citizens from purchasing these bonds. Export controls would restrict exports of high-tech goods to Russia, while a luxury goods ban would prohibit the export of US-origin luxury goods.
The international community has responded to Russia’s actions in Ukraine with a mix of condemnation and calls for increased sanctions.
Ukrainian President Volodymyr Zelenskyy has welcomed penalties on states still doing business with Moscow, stating it’s unfair for countries to continue buying Russian oil and gas while Ukraine suffers. Despite ongoing conflict, diplomatic efforts continue, with US President Donald Trump hosting both Putin and Zelenskyy.
However, little progress has been made towards a peace deal. The EU and US have confirmed preparations for new sanctions packages, including restrictions on over 100 ships and sanctions against more than 50 individuals and entities.
