Donald Trump has cautioned that he will enforce steep tariffs and additional sanctions on Russia if Vladimir Putin does not bring an end to the war in Ukraine.
Posting on his social media platform, Truth Social, Trump stated that his efforts to resolve the conflict were a "very big favor" to Russia and its president.
He had earlier claimed that he could negotiate a resolution to Russia's large-scale invasion, which began in February 2022, within a single day.
Russia has not yet responded to the remarks, but senior officials have said in recent days that there is a small window of opportunity for Moscow to deal with the new US administration.
Putin has said repeatedly that he is prepared to negotiate an end to the war, which first began in 2014, but that Ukraine would have to accept the reality of Russian territorial gains, which are currently about 20% of its land. He also refuses to allow Ukraine to join Nato.
Kyiv does not want to give up its territory, although President Volodymyr Zelensky has conceded he may have to cede some currently occupied land temporarily.
On Tuesday Trump told a news conference he would be talking to Putin "very soon" and it "sounds likely" that he would apply more sanctions if the Russian leader did not come to the table.
But in his Truth Social post on Wednesday, he went further: "I'm going to do Russia, whose Economy is failing, and President Putin, a very big FAVOR," he wrote.
"Settle now, and STOP this ridiculous War! IT'S ONLY GOING TO GET WORSE. If we don't make a 'deal', and soon, I have no other choice but to put high levels of Taxes, Tariffs, and Sanctions on anything being sold by Russia to the United States, and various other participating countries."
Continuing, he said: "Let's get this war, which never would have started if I were President, over with! We can do it the easy way, or the hard way - and the easy way is always better. It's time to "MAKE A DEAL"."
Russia's deputy UN ambassador Dmitry Polyanskiy earlier told Reuters news agency that the Kremlin would need to know what Trump wants in a deal to stop the war before the country moves forward.
Meanwhile Ukrainian President Volodymyr Zelensky told the World Economic Forum on Tuesday that at least 200,000 peacekeepers would be needed under any agreement.
And he told Bloomberg that any peacekeeping force for his country would have to include US troops to pose a realistic deterrent to Russia.
"It can't be without the United States... Even if some European friends think it can be, no it will not be," he said, adding that no-one else would risk such a move without the US.
While Ukraine's leaders might appreciate this tougher-talking Trump - they have always said Putin only understands strength - the initial reaction in Kyiv to the US president's comments suggest that it is actions people are waiting for, not words.
Trump has not specified where more economic penalties might be aimed, or when. Russian imports to the US have plummeted since 2022 and there are all sorts of heavy restrictions already in place.
Currently, the main Russian exports to the US are phosphate-based fertilisers and platinum.
On social media, there was a generally scathing response from Ukrainians. Many suggested that more sanctions were a weak reply to Russian aggression. But the biggest question for most is what Putin is actually open to discussing with Ukraine at any peace talks.
In Moscow meanwhile, some people are seeing signs that the Kremlin may be readying Russians to accept less than the "victory" once envisaged, which included tanks rolling all the way west to the southern Ukrainian port city of Odesa.
TV editor Margarita Simonyan, who is stridently pro-Putin, has begun talking of "realistic" conditions for ending the war, which she suggests could include halting the fighting along the current frontline.
That would mean the four Ukrainian regions that Putin illegally pronounced as Russian territory more than two years ago, like Zaporizhzhia, still being partially controlled by Kyiv.
Russian hardliners, the so-called "Z" bloggers, are furious at such "defeatism".
In his social media post, Trump also couched his threat of tariffs and tighter sanctions in words of "love" for the Russian people and highlighted his respect for Soviet losses in World War Two – a near-sacred topic for Putin - though Trump massively overestimated the numbers and appeared to think the USSR was Russia alone. In reality, millions of Ukrainians and other Soviet citizens also lost their lives.
That said, the man who previously said he could "understand" Russia's concerns about Ukraine joining Nato - which for Kyiv is tantamount to saying Putin was provoked - does seem to be shifting his tone.
Trump's position matters. But after 11 years of war with Russia and a history of poor peace deals, Ukrainians are not inclined to be too hopeful.
Source: BBC
BDST: 1238 HRS, JAN 23, 2025
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