Trump threatens to sanction Russia

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After weeks of distancing the U.S. from Ukraine, President Donald Trump on Friday threatened to impose expanded "large scale" sanctions and tariffs on Russia until it reaches a peace agreement with Ukraine.

“Based on the fact that Russia is absolutely ‘pounding’ Ukraine on the battlefield right now, 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. To Russia and Ukraine, get to the table right now, before it is too late. Thank you!! !” Trump wrote in a post on Truth Social.

While speaking to reporters in the Oval Office Friday afternoon, however, Trump said the U.S. was "doing well" with Russia and that he was "finding it more difficult, frankly, to deal with Ukraine.”

"They don’t have the cards," Trump said of Kyiv. "In terms of getting a final settlement, it may be easier dealing with Russia which is surprising, because they have all the problems, and they’re bombing the hell out of 'em right now."

Asked if he thinks Russian President Vladimir Putin is taking advantage of the U.S., Trump said he doesn't think so and wants to put an end to the war and reach a settlement. Trump said he would talk “at length” with Putin about Ukraine, maintaining that Russia would never have invaded had he remained in office and blaming Biden.

Trump also addressed his administration's decision to halt military aid and intelligence help to Ukraine and was asking what Ukraine will do if they run out of resources.

"I have to know that they want to settle. I don’t know that they want to settle. If they don’t want to settle, we’re out of there because we want them to settle and I'm doing it to stop death," said Trump, who then suggested that Europe needs to ramp up its contributions to Ukraine, "I watched over the last week or so what’s going on in Europe. This thing could end up in World War III if we don’t get it settled."

National Security Adviser Mike Waltz chimed in and said that he and Secretary of State Marco Rubio plan to meet with a Ukrainian delegation next week in Saudi Arabia "to get these talks back on track" to reach a cease-fire between Ukraine and Russia.

Treasury Secretary Scott Bessent on Thursday seemed to preview additional sanctions on Russia in remarks before the Economic Club of New York. He said that the Trump administration has kept enhanced sanctions on Russia in place and is prepared to go “all in" if it would "provide leverage in peace negotiations.”

“Per President Trump’s guidance, sanctions will be used explicitly and aggressively for immediate maximum impact,” Bessent said.

Bessent also accused the Biden administration of imposing "weak sanctions" on Russia's energy sector, which he said played a "major factor in the Russian war machine's continued financing." Bessent charged that Biden took a softer approach to sanctions due to "worries about upward pressure on U.S. energy prices during an election season."

Bessent also claimed that the Biden administration lifted U.S. sanctions on Russia in January, but it's unclear what he was referring to. Ten days before Trump’s inauguration, the Treasury Department implemented sweeping sanctions on Russia's energy sector and there's no evidence that the U.S. eased sanctions.