U.S. President Donald Trump said on March 7 that he is considering imposing sweeping banking sanctions and tariffs on Russia until there is a ceasefire and peace agreement.
According to Trump, his statement is based on the fact that Russia "is absolutely ‘pounding’ Ukraine on the battlefield" - a possible reference to Russia's recent advances in Kursk Oblast or Russia's large-scale missile and drone attack on Ukraine on March 7.
"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," Trump wrote on the Truth Social media platform.
"To Russia and Ukraine, get to the table right now, before it is too late. Thank you!"
Russian forces have reportedly made a breakthrough south of the Ukrainian-held town of Sudzha in Russia's Kursk Oblast, potentially threatening to cut off some of the Ukrainian positions in the region.
A Ukrainian soldier and a medic deployed in Kursk Oblast, who spoke to the Kyiv Independent on condition of anonymity, confirmed the Russian breakthrough in the embattled region on March 7.
Russia is also pushing in the Pokrovsk and Toretsk sectors in Donetsk Oblast, with a total of 146 clashes recorded across the front line over the past day, Ukraine's General Staff said on March 7.
Meanwhile, Russia launched another large-scale aerial attack on Ukraine overnight on March 7, launching 67 missiles of various types and 194 drones. Ukraine's air defenses intercepted 34 missiles and 100 drones, the Air Force said.
Shortly after his inauguration, Trump threatened to impose tariffs and sanctions on Russia to force their hand in negotiations, saying "we can do it the easy way or the hard way." In the following weeks, Trump instead lashed out at Ukraine, claiming President Volodymyr Zelensky was "not ready for peace" and halting military aid to Ukraine and intelligence sharing with Kyiv.
Earlier this month, Reuters reported that Washington is preparing a proposal to potentially ease sanctions on Moscow as Trump works to restore diplomatic ties and negotiate an end to the war in Ukraine.
U.S. and Ukrainian delegations are planning to meet in Jeddah, Saudi Arabia, on March 11 to discuss the framework for a potential peace agreement.
Zelensky has proposed a "truce in the sky" banning missiles, long-range drones, and bombs targeting civilian infrastructure, as well as a "truce at sea" as the first steps towards the de-escalation.
Chris York
(Updated: )
