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Trump Threatens Economic War as Envoy Schedules New Ukraine Talks and Kremlin Balks at Summit

The White House pairs fresh sanctions threats with continued back‑channel outreach.

A general view of the liquefied natural gas plant operated by Sakhalin Energy at Prigorodnoye on the Pacific island of Sakhalin, Russia July 15, 2021. Picture taken July 15, 2021.  REUTERS/Vladimir Soldatkin/File Photo
Donald Trump and Volodymyr Zelensky
Image
U.S. President Donald Trump's special envoy to Russia, Steve Witkoff, attends a press conference held by U.S. President Donald Trump and Russian President Vladimir Putin following their meeting to negotiate an end to the war in Ukraine, at Joint Base Elmendorf-Richardson, in Anchorage, Alaska, U.S., August 15, 2025. REUTERS/Kevin Lamarque/File Photo

Overview

  • U.S. special envoy Steve Witkoff said he will meet Ukrainian representatives in New York this week and that Washington is speaking with Russia daily.
  • President Trump warned he is prepared to launch an “economic war,” signaling severe sanctions or tariffs if progress toward a ceasefire or peace deal stalls.
  • Russia says no PutinZelensky meeting is planned because a summit agenda is not ready, while Trump dismissed Moscow’s questioning of Zelensky’s legitimacy as posturing.
  • Sources say negotiators discussed energy incentives, including a potential ExxonMobil return to Sakhalin‑1 and U.S. equipment for Russian LNG projects, after Putin amended a decree to allow foreign firms back into Sakhalin‑1.
  • Zelensky said possible talks could be hosted by Turkey, Gulf states or a European country and urged stronger international pressure, as the UK accused Moscow of dragging its feet.