US President Donald Trump announced he is "strongly considering" new sweeping sanctions and tariffs on Russia—including banking restrictions—to pressure Moscow into a ceasefire and peace agreement with Ukraine. He has also paused military aid and intelligence sharing with Ukraine, urging both sides to negotiate immediately.

Axar.az, citing Reuters, reports that Trump’s comments come despite Russia already facing over 20,000 sanctions from the U.S. and its allies.

Sources say further measures could target Russian oil majors and service companies. Critics argue Trump's approach favors Putin and undermines Ukraine’s position.

The Trump administration is reportedly drafting plans to offer Russia partial sanctions relief in exchange for peace, potentially easing restrictions on its energy sector. Meanwhile, previous Biden-era sanctions have targeted hundreds of Russian entities, with a focus on curbing oil revenue and penalizing sanctions evasion.