Trump plans more sanctions on Russia and its oil buyers
What's the story
US President Donald Trump has said he is prepared to enter a "second phase" of sanctions against Russia. This is the closest he has come to indicating that he may be preparing to intensify sanctions against Moscow or its oil buyers over the ongoing Ukraine conflict. The comments were made during a press interaction at the White House on Sunday.
Presidential stance
Trump yet to provide details on second phase of sanctions
When asked about his readiness to move to "the second phase" of sanctions against Russia, Trump said, "Yeah, I am." However, he did not provide any further details on what this second phase would entail. Trump has expressed his frustration over his inability to end the fighting in Ukraine. He had initially hoped to do so quickly after assuming office in January.
Sanction justification
Trump defends previous actions against Russia
The recent exchange comes after Trump defended his earlier actions against Russia, including imposing punitive tariffs on India's US-bound exports last month. India is a major buyer of Russian energy exports, while Western buyers have reduced their purchases due to the war. "That cost hundreds of billions of dollars to Russia," Trump said Wednesday. "You call that no action? And I haven't done phase two yet or phase three."
Economic pressure
US Treasury Secretary suggests potential 'secondary tariffs'
Treasury Secretary Scott Bessent has suggested that the US and the European Union could impose "secondary tariffs on the countries that buy Russian oil." This move, he said, could push the Russian economy to its breaking point and force President Vladimir Putin to negotiate. China is also a major buyer of Russian energy exports.