Trump Declares Phase Two Russia Sanctions Ready as Treasury Urges EU Alliance to Defeat Putin

Geopolitical tensions escalate as former President Trump announces prepared secondary sanctions against Russia—while Treasury officials actively court EU partners to strengthen the financial blockade against Putin's regime.

Strategic Financial Pressure

The move signals a hardening Western stance, leveraging economic tools as modern warfare. Treasury's push for EU collaboration underscores the critical need for multinational coordination to maximize impact.

Sanctions have long been the West's weapon of choice—because nothing hurts authoritarian regimes quite like cutting off their money supply. Even traditional finance sometimes gets it right.

Bessent calls for EU cooperation on oil sanctions

Treasury Secretary Scott Bessent also went public on Sunday, pushing for the European Union to support U.S. efforts with secondary penalties. Speaking on NBC’s Meet the Press, Bessent said the administration is ready to target countries that continue buying Russian oil, warning that this could force Putin into negotiations if done in coordination with European allies.

“We are prepared to increase pressure on Russia, but we need our European partners to follow us,” Bessent said. He brushed off economic concerns, including fears of a U.S. recession, and focused instead on Ukraine’s ability to hold out.

“We are in a race now between how long can the Ukrainian military hold up versus how long can the Russian economy hold up,” he added. He made clear that a joint effort between Washington and Brussels could crush Russia’s economy and force Putin to the table.

“If the U.S. and the EU can come in, do more sanctions, secondary tariffs on the countries that buy Russian oil, the Russian economy will be in total collapse,” Bessent said.

He pointed out that China remains one of Russia’s biggest energy clients. That reality complicates things, especially as India, another large buyer, is already facing stiff penalties from the U.S. Last month’s 50% tariff on Indian goods remains one of the steepest economic actions taken by the Trump administration in this term.

Zelenskyy backs tariffs, questions Europe’s role

Ukrainian President Volodymyr Zelenskyy also addressed the sanctions strategy during an appearance on ABC’s This Week. Zelenskyy openly supported Trump’s idea to punish countries that continue to do business with Russia.

“I think this is right idea,” he said. “Some of them, I mean, they continue [to] buy oil and Russian gas, and this is not fair.” Zelenskyy added, “I think the idea to put tariffs on the countries who continue make deals with Russia… this is right idea.”

Trump’s international engagements have also stepped up. He traveled to Alaska last month to meet with Putin for the first time since reclaiming the presidency. 

Just days later, Trump hosted Zelenskyy and several European leaders at the WHITE House to talk about ending the war. But despite those high-level discussions, nothing has changed on the ground. Russian airstrikes continue. Negotiations have stalled.

And the Kremlin hasn’t shown signs of backing off.

Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free.