Donald Trump suggested he will not hit Russia with more sanctions at the G7 summit, saying Europeans should "do it first" and that "sanctions cost us a lot of money."

Axar.az reports, citing Politico, The EU and U.K. are both pushing for more coordinated sanctions against Vladimir Putin's regime at the Canada-hosted gathering of leaders, but the U.S. president has so far refused to sign up to fresh action.

When asked whether he was united with Europe on new sanctions over Russia's 2022 invasion of Ukraine, Trump said “well Europe is saying that, but they haven't done it yet."

“Let’s see them do it first,” he told reporters in a joint press appearance with British Prime Minister Keir Starmer.

He added: “When I sanction a country, that costs the U.S. a lot of money — a tremendous amount of money.

“It's not just, let's sign a document. You're talking about billions and billions of dollars. Sanctions are not that easy. It's not just a one-way street.”

The president said he wanted to keep trying to push forward stalled peace negotiations before hitting Russia with further punitive measures.

The EU is calling for a cut to the price cap on Russian oil — a key sanction against Putin — from $60 to $45.

The measure would further starve the Russian president of revenue to fight his war against Ukraine. European Commission President Ursula von der Leyen said Sunday: "We must put more pressure on Russia to secure a real cease-fire, to bring Russia to the negotiating table and to end this war, sanctions are critical to that end."