WASHINGTON, March 7 — Former U.S. President Donald Trump indicated that he is strongly considering imposing large-scale banking sanctions and tariffs on Russia in response to its intensified military actions in Ukraine.
In a post on Truth Social, Trump cited Russia’s ongoing offensive as the primary reason for his consideration, describing the situation as Russia “absolutely ‘pounding’ Ukraine on the battlefield.”
The announcement comes amid escalating violence, including significant advances by Russian forces in the Kursk Oblast and a massive aerial assault on March 6-7, which involved 67 missiles and 194 drones targeting Ukrainian infrastructure.
Ukraine’s air defense managed to intercept many of these threats, but the sheer scale of the attack underscored the growing intensity of the conflict. Trump emphasized that any sanctions would remain in place until a ceasefire and a formal peace agreement are reached.
“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 ceasefire and final settlement agreement on peace is reached,” he stated. Trump urged both Russia and Ukraine to come to the negotiating table “before it is too late.”
Growing Pressure for Diplomacy
Trump’s remarks align with broader diplomatic efforts by U.S. officials to resolve the conflict through economic pressure.
Reports suggest that while the U.S. is preparing to tighten sanctions against Russian financial institutions and energy exports, some officials are also exploring easing specific sanctions to revive diplomatic negotiations.
Treasury Secretary Scott Bessent and special envoy Keith Kellogg have publicly supported more severe measures, emphasizing a readiness to take “all in” action if necessary.
Meanwhile, discussions between U.S. and Ukrainian representatives are scheduled to take place in Jeddah, Saudi Arabia, on March 11.
The talks aim to explore potential frameworks for a peace agreement, focusing on Ukrainian President Volodymyr Zelensky’s proposal for a “truce in the sky” to ban missiles, long-range drones, and bombs from targeting civilian areas, alongside a “truce at sea.”
However, both sides remain entrenched in their positions, casting doubt on immediate progress.
Military Escalation in Kursk
On the battlefield, Moscow’s forces have reportedly breached Ukrainian defenses south of Sudzha, a strategic location that could threaten Ukrainian positions in the Kursk Oblast.
The latest offensive follows weeks of heavy fighting and a surge in missile and drone strikes, which have inflicted significant damage on Ukraine’s energy and civilian infrastructure.
Ukrainian officials confirmed the recent escalation, highlighting the need for more advanced air defense systems and international support.
Mixed Signals on Sanctions Strategy
Trump’s statements mark a noticeable shift in tone, following earlier criticisms of President Zelensky’s approach to negotiations.
The former president’s renewed push for sanctions suggests a tougher stance amid rising bipartisan pressure to confront Moscow more forcefully.
However, no official actions have been taken against Russia as of yet, leaving questions about the timing and scope of potential U.S. measures.
As the conflict drags on, the effectiveness of sanctions as a tool to force a ceasefire remains uncertain. Previous rounds of U.S. and European sanctions have inflicted economic pain on Russia but have failed to halt its military campaign.
Analysts suggest that a new wave of banking restrictions, coupled with energy sanctions, could significantly raise the costs for Moscow, potentially reshaping the dynamics of the conflict.
For now, the situation on the ground continues to deteriorate, with both sides preparing for further escalations.
The coming days are expected to test the resolve of U.S. policymakers, who must balance the urgency of supporting Ukraine with the risks of deepening economic warfare with Russia.
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