Trump says Russia could face 'devastating' financial penalties if it continues war against Ukraine

U.S. President Donald Trump said that Russia could face "devastating" financial repercussions if it continues war against Ukraine.

Trump was speaking in the Oval Office during a visit by Micheál Martin, the Taosich of Ireland.

Trump said ‘it’s up to Russia now’ as US presses for a 30-day ceasefire in Ukraine, "and hopefully we can get a ceasefire from Russia,” Trump commented during an extended exchange with reporters during an Oval Office meeting with Martin. “And if we do, I think that would be 80% of the way to getting this horrible bloodbath” ended.

The president again veiled threats to hit Russia with new sanctions.

“We can, but I hope it’s not going to be necessary,” Trump added.

Russian President Vladimir Putin has repeatedly ruled out a temporary break in hostilities, saying it would only benefit Ukraine and its Western allies by letting them replenish their arsenals. He has insisted Moscow wants a comprehensive agreement that would ensure a lasting settlement.

The Kremlin responded cautiously to the news of Ukraine accepting the U.S.-proposed truce during Tuesday’s talks in Saudi Arabia, saying that it needs to know details of the discussions before expressing its view.