WASHINGTON, Aug 26 (Reuters) – Former U.S. President Donald Trump indicated on Tuesday that he is contemplating significant economic actions against Russia should President Vladimir Putin refuse to agree to a ceasefire in Ukraine.
“What I’m considering is very serious, if it comes to that,” Trump said in response to a question about potential consequences for Putin. “We have economic tools at our disposal. I’m focusing on economic pressure because we must avoid escalating into a global military conflict.”
Trump has delayed implementing previously threatened sanctions as part of his ongoing efforts to mediate an end to the prolonged war. He has proposed direct negotiations between Ukrainian President Volodymyr Zelenskiy and Putin, a suggestion Zelenskiy has conditionally accepted, though the Kremlin has not confirmed any such meeting is planned.
At a Cabinet meeting, Trump emphasized that while military escalation is not the goal, economic consequences could be severe. “It won’t trigger a world war, but it could become an economic war—and that would be damaging, especially for Russia. I’d prefer to avoid that outcome,” he stated.
He also commented that Zelenskiy bears some responsibility in the ongoing conflict.
Despite limited diplomatic breakthroughs, U.S. and European officials are exploring possible security assurances for Kyiv following a potential peace agreement, which might include intelligence cooperation or aerial support.
Trump has long advocated for leveraging economic instruments in foreign policy. He recently announced plans to impose an additional 25% tariff on Indian exports to the U.S. due to India’s continued purchase of Russian oil—one of the largest such importers globally.
On Tuesday, Trump suggested he might support a robust tariff framework that could impose substantial costs on either Russia or Ukraine to incentivize peace.
Reporting by Trevor Hunnicutt; Additional reporting by Nandita Bose; Editing by Don Durfee and Nia Williams
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Trump still weighing ‘very serious’ economic sanctions on Russia
WASHINGTON, Aug 26 (Reuters) – U.S. President Donald Trump said on Tuesday he is prepared to impose economic sanctions against Russia if its president, Vladimir Putin, fails to agree to a ceasefire in the war in Ukraine. n n”It ‘s very, very serious what I have in mind, if I have to do it, but I want to see it end,” Trump told a reporter who asked if Putin would face consequences. “We have economic sanctions. I ‘m talking about economic because we ‘re not going to get into a world war.” n nSign up here. n nThe president has withheld long-threatened sanctions against Putin in his latest push to end the more than three-year-long war that has so far defied his efforts at mediation. n nTrump is seeking one-on-one talks between Ukrainian President Volodymyr Zelenskiy and Putin. Though Zelenskiy has agreed in principle to such talks, Putin has not. The Kremlin has suggested no such meeting is currently on the cards. n n”It will not be a world war, but it will be an economic war,” Trump said at a White House Cabinet meeting. “An economic war is going to be bad, and it ‘s going to be bad for Russia, and I don ‘t want that.” n nHe added: “Zelenskiy is not exactly innocent, either.” n nDespite slow diplomatic progress, U.S. and European officials have been discussing potential security guarantees that Washington might provide Kyiv after a hypothetical deal is reached, potentially including support by air or intelligence sharing. n nTrump has long suggested using economic tools as leverage against warring nations. He is preparing to slap 25% more in tariffs on India ‘s U.S.-bound exports on Wednesday over New Delhi ‘s Russian oil buying. n nIndia is one of the biggest consumers of Russian oil. n nTrump suggested on Tuesday that he was open to “using a very strong tariff system that ‘s very costly to Russia or Ukraine” to make peace. n nReporting by Trevor Hunnicutt; Additional reporting by Nandita Bose; Editing by Don Durfee and Nia Williams