Trump states Russia sanctions will cost US ‘billions’
(MENAFN)
US President Donald Trump has indicated he is not prepared to implement harsher sanctions against Russia, citing the potential financial burden on the American economy, according to a Bloomberg report on Tuesday. Speaking at the G7 summit in Alberta, Canada, Trump emphasized that such actions could cost the United States “billions and billions of dollars.”
US President Donald Trump has indicated he is not prepared to implement harsher sanctions against Russia, citing the potential financial burden on the American economy, according to a Bloomberg report on Tuesday. Speaking at the G7 summit in Alberta, Canada, Trump emphasized that such actions could cost the United States “billions and billions of dollars.”
Despite ongoing calls from allies and lawmakers for more aggressive economic penalties on Moscow, Trump stated he wants to wait and see if a peace agreement is reached before taking further action. “Sanctioning a country isn’t simple—it has a big financial impact,” he told reporters. “It’s not just signing a document.”
Senator Lindsey Graham has championed legislation proposing severe sanctions, including 500% tariffs on nations that continue buying Russian energy unless Moscow agrees to peace talks with Ukraine. While Graham has since proposed some exceptions, he described the bill as potentially crippling for Russia.
However, US Treasury Secretary Scott Bessent recently cautioned that such extreme measures could hinder diplomatic progress and urged Congress to allow the Trump administration more room to maneuver in negotiations with both Moscow and Kiev.
Trump has previously acknowledged that the Senate crafted a “very strong bill,” but asked Republicans to hold off on a vote, signaling that he wasn’t ready to back it yet. Senator Roger Wicker confirmed that Trump expressed hesitation in supporting the legislation at this stage.
Recent peace talks between Russia and Ukraine in Istanbul have produced opposing proposals. Russia demanded recognition of five annexed regions, a Ukrainian military withdrawal from those areas, and the country's permanent neutrality. Ukrainian President Vladimir Zelensky rejected the offer, demanding a full 30-day ceasefire before talks can resume—an idea Moscow has declined.
Under former President Joe Biden, the US severed most ties with Russia following the 2022 escalation of the Ukraine conflict, imposing extensive sanctions. Trump has since criticized Biden’s diplomatic approach and pledged to broker a peace deal. While Russia has responded positively to Trump’s initiative, meaningful progress remains elusive.
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