Trump: Russia faces "high levels of taxes, tariffs and sanctions" if Ukraine war does not end

US president Donald Trump has warned Russia will face "high levels of taxes, tariffs and sanctions" if President Vladimir Putin does not end the war in Ukraine.

On his Truth Social social media platform, Mr Trump expressed his "love" for the Russian people and his "good relationship" with Mr Putin, before issuing a direct warning to "STOP this ridiculous War!"

He wrote: "IT'S ONLY GOING TO GET WORSE. If we don't make a 'deal', and soon, I have no other choice but to put high levels of Taxes, Tariffs, and Sanctions on anything being sold by Russia to the United States, and various other participating countries."

Donald Trump takes the oath of office to become the 47th US president | Getty Images

He added: "It's time to 'MAKE A DEAL'. NO MORE LIVES SHOULD BE LOST.”

Russia is already the most sanctioned country in the world, and there are very few key entities or sectors that are not already subject to US and European restrictions.

Russian banks and military-industrial enterprises have adapted, and developed workarounds to evade existing sanctions.

A day after Mr Trump was sworn in as 47th US president on Monday, Mr Putin spoke with Chinese President Xi Jinping and emphasised their two countries’ close ties.

The two leaders discussed their prospective contacts with Mr Trump’s administration during the video call that lasted more than one-and-a-half hours, the Kremlin said.

They have developed strong, personal links that brought their relations even closer after Mr Putin sent troops into Ukraine in 2022. China has become a major customer for Russian oil and gas and a source of key technologies amid sweeping Western sanctions on Moscow.

In the call with Mr Xi, Mr Putin emphasised that Russia-China relations are based on shared interests, equality and mutual benefits, noting they “don’t depend on internal political factors and the current international environment”.

“We jointly support the development of a more just, multipolar global order, and work to ensure indivisible security in Eurasia and the world as a whole,” Mr Putin told Mr Xi in remarks carried by Russian state TV. “Joint efforts by Russia and China play an important stabilising role in global affairs.”