US President Donald Trump has said he will start imposing tariffs and sanctions on Russia within 10 days (from July 29 US time) if Moscow has made no progress in ending the more than three-year conflict in Ukraine.
Mr. Trump said he had shortened the action period from 50 days to 10 to 12 days on July 28 (US time), but has not yet received a response from Russia.
Speaking on Air Force One, Mr. Trump emphasized that he was not concerned about the potential impact of sanctions on the oil market or oil prices, because the US could increase domestic production to compensate.
"I don't know if it will affect Russia, because Vladimir Putin clearly wants to continue the conflict," Trump said. But we will impose taxes and necessary measures.
During his visit to Scotland the day before, Trump threatened to impose secondary sanctions not only on Russia but also on countries that continue to buy goods for export from Russia.
US Treasury Secretary Scott Bessent revealed that in recent bilateral talks with Chinese officials, he mentioned the possibility that Beijing will face high tariffs if it continues to import oil from Russia.
On social media platform X, Dmitry Medvedev - a former Russian president and close ally of Mr. Putin - accused Mr. Trump of playing a " max number game", which could push the US into a bigger conflict.
Trump, who has repeatedly affirmed his good relationship with Mr. Putin, has now expressed his disappointment that Russia has not accepted the ceasefire agreement. Having campaigned for a peaceful end to the conflict between Russia and Ukraine in just one day, Trump is also struggling to find a peaceful solution in Ukraine and Gaza, despite previously highlighting his role in ending tensions between India and Pakistan as well as between Rwanda and Congo.
