Trump signals 'phase two' of sanctions to collapse Russian economy via EU cooperation

President Donald Trump has said he is ready to move ahead with a “second phase” of sanctions targeting Russia, aimed at crippling its economy and compelling President Vladimir Putin to negotiate an end to the war in Ukraine.

He emphasized that coordinated action with the European Union, including “more sanctions” and secondary tariffs on countries that buy Russian oil is necessary to achieve this outcome.

At the White House, Trump told reporters, “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.”

Treasury Secretary Scott Bessent supported this strategy in a televised NBC interview. He noted that coordinated economic pressure between the US and EU could push Russia’s economy to break. Bessent said the Kremlin's finances are vulnerable and that this synchronized effort would tilt the balance in favor of peace.

The idea of secondary tariffs—penalizing importers of Russian oil—targets key buyers such as India and China, who have helped sustain Moscow’s energy revenues despite Western sanctions. Analysts say such tariffs could severely threaten Russia’s oil-driven income.

Trump's remarks followed the largest air assault yet by Russia on Ukraine, marking a tense moment in the conflict. With diplomatic options showing limited progress, the administration is signaling a shift toward maximizing economic pressure. Bessent summed it up by comparing the endurance of Ukraine’s military with Russia’s faltering economy.

However, the White House has not detailed when “phase two” sanctions would be implemented or how they would be structured. As of now, the US and EU appear aligned in strategy, but specifics remain pending.