Kremlin braces for potential 500% sanctions amid tensions
Before the conversation with Trump, the Kremlin is preparing Russians for drastic sanctions that could reach as high as 500 percent, reports "The Moscow Times."
What do you need to know?
- Russian state television is promoting the benefits of sanctions, preparing residents for potential tariffs.
- Donald Trump intends to warn Putin that the lack of a ceasefire in Ukraine may result in new sanctions, including tariffs on oil.
- The EU is considering targeting banks that mediate in Russia's trade.
According to "The Moscow Times," Russian state television is trying to convince citizens that the country's economy is coping well with the sanctions imposed by the West.
Maksym Oreshkin, deputy chief of the presidential administration, emphasized in an interview with Rossiya 1 television that Russia has learned to function under external constraints. "Business confirms that it is ready to deal with these restrictions," Oreshkin stated.
According to Bloomberg, Donald Trump plans to warn Vladimir Putin that the lack of a ceasefire in Ukraine may result in new sanctions. Senator Lindsey Graham has introduced a bill to Congress that provides for tariffs of up to 500 percent on countries buying Russian oil, such as China, India, and Turkey.
"If his demands are not met, the Russian army will take control of the entire Donetsk, Luhansk, Kherson, and Zaporizhzhia regions by the end of the year," according to Bloomberg sources.
EU sanctions
The European Union is preparing a new, 18th package of sanctions that may target banks mediating in Russia's foreign trade.
EU diplomats are also considering lowering the price cap on Russian oil, which is currently $60 per barrel. "Russian soldiers fighting in Ukraine do not share the president's optimism," said a source close to the Russian Ministry of Defence.
