Stephen Silver
Key Points and Summary – Following Russia’s massive weekend drone attack, the U.S. and European Union are coordinating on a potential new, tougher round of sanctions.
-President Trump threatened a “second phase,” while the Treasury Secretary called for a joint effort to “collapse” the Russian economy.
-An EU delegation is in Washington this week to discuss its 19th sanctions package, which could target Russian banks, energy companies, and payment systems.
-Crucially, the EU may also use its “anti-circumvention tool” against third countries like Kazakhstan that help Moscow evade restrictions, signaling a significant tightening of economic pressure.
Time to Collapse the Russian Economy?
Approached on his way to the U.S. Open on Sunday, President Donald Trump said he’s ready to move to a “second phase” of sanctions against Russia.
Per Reuters, Trump has made that threat before, but backed down as he has pursued peace talks, aimed at ending the war after more than three years. Trump did place secondary tariffs on India, a major importer of Russian energy.
“That cost hundreds of billions of dollars to Russia,” Trump said last week of the India tariffs. “You call that no action? And I haven’t done phase two yet or phase three.”
Russia has responded to the threat, once again making clear that it will not back down due to sanctions.
“Sanctions are the agenda supported by the Kyiv regime and European countries. They are doing everything to bring Washington into their orbit and impose these sanctions,” Kremlin spokesperson Dmitry Peskov said in a Telegram interview this week.
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