President Donald Trump on Wednesday threatened to impose “high levels” of sanctions on Russia and tariffs on imports from there if President Vladimir Putin did not reach a settlement to end its war against Ukraine, per CNBC. 

“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,” said Trump on Truth Social. 

Market reaction

At the press time, the USD/RUB pair is down 0.25% on the day to trade at 98.75.