U.S. President Donald Trump said that he is prepared to impose a “second phase” of sanctions on Russia. Mr Trump told reporters outside the White House that he is ready when he was asked if additional measures were coming.

His remark followed comments by Treasury Secretary Scott Bessent, who warned that Russia’s economy would collapse if the United States and European Union expand secondary sanctions on countries purchasing Moscow’s crude oil. Mr Trump’s statement came after Russia carried out its largest-ever air attack on the Ukrainian capital, Kyiv, destroying buildings housing key government offices.