Former President Donald Trump has indicated he is contemplating the implementation of extensive sanctions and tariffs on Russia, as the United States seeks to apply pressure on Moscow to facilitate a resolution to the ongoing Ukraine conflict.

Recent Developments and Confrontations

Trump’s remarks followed a recent period of heightened tensions with Ukrainian President Volodymyr Zelenskyy, which resulted in the U.S. temporarily suspending military aid and intelligence support to Ukraine. These developments have created a complex backdrop ahead of forthcoming talks between U.S. and Ukrainian officials scheduled in Saudi Arabia next week.

Trump’s Statements on Sanctions

On his Truth Social platform, Trump stated, “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.” He also urged both Russia and Ukraine to engage in negotiations promptly, emphasizing a sense of urgency: “To Russia and Ukraine, get to the table right now, before it is too late. Thank you!!!”

Domestic and International Reactions

Trump’s earlier confrontations with Zelenskyy have not gone unnoticed, drawing criticism from both U.S. allies and members of Congress, including some from his own party. Observers are increasingly concerned that the U.S. could be unintentionally granting Russia an advantage even before direct discussions between Moscow and Kyiv commence.

Existing Sanctions Landscape

The Biden administration has already imposed extensive sanctions targeting Russian financial services and its critical energy sector, among others. These actions had previously cut Russia’s trade surplus significantly, decreasing from $337 billion in 2022 to $151 billion in 2023, according to Alexandra Prokopenko of the Carnegie Russia Eurasia Center in Berlin.

Prokopenko noted that the severe impact of sanctions, particularly against oil exports, has forced Russian companies to sell at discounted rates, significantly increasing their logistical and financial burdens.

Challenges Ahead

Given the comprehensive sanctions already enacted under the Biden administration, experts suggest that Trump’s ability to increase pressure on Russia may be limited. Prokopenko remarked that, “There’s no sanctions bazooka anymore and the U.S. can’t inflict real pain.”

Critics from Trump’s circle, however, assert that the existing sanctions have fallen short in effectively curbing Russia’s energy sector, which is vital for financing the ongoing conflict. U.S. Treasury Secretary Scott Bessent commented on this issue, highlighting that weak sanctions have allowed the Russian war effort to persist.

Future Prospects for Sanctions

The Biden administration has previously hinted at the possibility of easing sanctions should a peace deal be negotiated with Ukraine. There is also speculation about business prospects for American investors in Russia if such an agreement materializes.

As for increased tariffs on Russian imports, experts believe the impact would be minimal given the drastic decline in trade between the two nations. As reported by the U.S. Trade Representative’s office, imports from Russia plummeted to a mere $3 billion in 2024.