Prepared for Additional Penalties Against Russia by Trump

The United States is pushing for increased economic pressure on Russia, with President Donald Trump criticizing European countries for continuing to trade Russian oil via pipelines. Trump's comments come as US Treasury Secretary Steven Mnuchin is set to meet with European officials on Monday to discuss new sanctions against Moscow.

The EU imposed far-reaching import bans on Russian energy carriers such as coal and oil after Moscow's attack on Ukraine in 2022. However, these bans do not extend to oil transported via pipelines, allowing the Russian Druzhba pipeline to continue supplying oil towards Hungary and Slovakia.

Trump has been vocal about his disapproval, reportedly demanding that European countries end their oil deals with Russia during a phone call with European leaders. He claims that these deals are financing Russia's war against Ukraine.

Mnuchin, on the other hand, has suggested that if the US and EU impose further sanctions and introduce tariffs for countries buying Russian oil, the Russian economy would collapse completely, bringing President Vladimir Putin to the negotiating table.

The US has already imposed tariffs on India, the only trading partner of Russia in this context, with Trump threatening 100% tariffs but only imposing additional 25% tariffs due to India's oil deals with Russia. Trump has hinted at plans for "Phase 2" and "Phase 3" of sanctions beyond the recent tariff on India.

However, Europe's oil deals with Russia have significantly decreased in recent years but have not been completely stopped. The EU had not stopped oil transport via pipelines, a fact that Trump has also criticized.

Trump's diplomatic efforts to resolve the Ukraine war have been unsuccessful so far. Putin has been accused of stalling a direct meeting with Ukrainian President Volodymyr Zelensky. The US views sanctions as a means to pressure Putin to achieve a peaceful resolution to the Ukraine war.

Mnuchin stated on NBC News that the US is ready to increase the pressure on Russia, but needs the support of its European partners. The meeting on Monday in Washington between Mnuchin and several European officials led by EU sanctions coordinator David O'Sullivan will likely provide more insights into the future of these sanctions and the US's diplomatic strategy towards Russia.