‘Russian economy will be in full collapse’: US official hints at additional tariffs on countries purchasing oil from Moscow

The talks followed up with a call from Von der Leyen to Bessent, focusing on joint strategies to step up pressure on Russia.

“If the US and the EU can come in, do more sanctions, secondary tariffs on the countries that buy Russian oil, the Russian economy will be in full collapse, and that will bring President Putin to the table,” Bessent said.

The treasury secretary then said that the United States was ready to increase pressure on Russia, “but we need our European partners to follow us”.

“We are in a race now between how long can the Ukrainian military hold up versus how long can the Russian economy hold up,” he said.

Bessent’s remarks follow Washington’s imposition of an additional 25 per cent tariff on New Delhi, in addition to its 25 per cent reciprocal tariff, for purchasing crude oil from Russia.

‘Very disappointed’ with Putin over Ukraine, says Trump

Trump last week said that he was “very disappointed” with Russian President Vladimir Putin over the war in Ukraine and indicated that Washington was preparing to take actions aimed at reducing deaths in the conflict.

In an interview with The Scott Jennings Radio Show, Trump said, “I am very disappointed in President Putin, I can say that, and we will be doing something to help people live.”

Trump also said that he was “not concerned at all” about the closer ties between Moscow and Beijing.

“We have the strongest military in the world, by far. They would never use their military on us. Believe me,” the US president said.