US President Donald Trump said on Sunday that his administration is prepared to proceed with a second stage of sanctions against Russia in connection with the conflict in Ukraine, Reuters reported.

Speaking at the White House, Trump indicated that Washington is ready to increase pressure on Moscow if no progress is made toward a peace settlement.

Earlier, US Treasury Secretary Scott Bessent confirmed that Washington was prepared to intensify sanctions on Russia in an effort to allegedly push it toward a peace agreement with Ukraine. However, he emphasized that the United States seeks the European Union’s participation in the effort to maximize its impact.

Trump threatens Russia with economic war

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Despite alleged pursuits to end the conflict in Ukraine, Donald Trump has consistently threatened Russia as a means to pressure it into succumbing to a deal. 

Two weeks ago, he warned that Russia could face severe economic consequences if no peace deal is reached.

"I'd like it [Ukraine conflict] to stop. I want to get it to stop. And it will not be a world war, but it will be an economic war, and an economic war is going to be bad, and it's going to be bad for Russia. And I don't want that now," Trump said during a cabinet meeting in Washington.

The US president emphasized that Washington would not pursue a military confrontation but was prepared to use economic sanctions against Moscow. "We have economic sanctions. I am talking about economics because we're not going to get into a world war," he said.

He added that he had "something very serious" in mind in terms of economic measures should negotiations fail.

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