A new sanctions list is ready, diplomacy is on the clock and Moscow is unmoved. As Trump pushes peace and Kyiv signals flexibility, Putin’s response may determine the war’s next phase. Read here
The United States is preparing a fresh package of sanctions targeting Russia’s energy sector as Washington braces for the possibility that President Vladimir Putin will once again reject a proposed peace deal to end the war in Ukraine.
The approach reflects a recalibration in Washington, with officials increasingly view that economic pressure remains the most effective lever to influence Moscow’s cost-benefit calculus.
According to people familiar with the discussions as reported by Bloomberg, the proposed sanctions would focus on vessels linked to Russia’s so-called “shadow fleet” of oil tankers and the traders who help facilitate Moscow’s oil exports. These measures, which could be unveiled as early as this week, are designed to tighten pressure on Russia’s most critical revenue stream if diplomacy collapses yet again.
Treasury Secretary Scott Bessent discussed the plans with European ambassadors earlier this week, reinforcing the Trump administration’s message that peace remains the preferred outcome.
In a post on X following the meeting, Bessent said Trump viewed himself as a “President of Peace” and was committed to ending the Ukraine war.
My thanks to @EUAmbUS Ambassador Neliupšienė for hosting discussions this morning with the 27 EU Ambassadors to the United States.
President Trump is the President of Peace, and I reiterated that under his leadership, America will continue to prioritize ending the war in… pic.twitter.com/3SfQiL4lvw
— Treasury Secretary Scott Bessent (@SecScottBessent) December 15, 2025
However, officials warned that any final decision rests with Trump, who has alternated between threatening harsher economic measures and publicly expressing confidence that he could broker a deal with Moscow.
The Kremlin has acknowledged that Washington is considering new sanctions. Putin’s spokesman Dmitry Peskov warned that additional restrictions would harm efforts to rebuild relations, signalling Moscow’s continued resistance to economic pressure as a diplomatic tool.
Trump proposes, Putin disposes
The looming sanctions threat comes against the backdrop of three US-led peace initiatives over the past year, all of which failed to halt the fighting.
The first proposal, floated early in Trump’s return to office, focused on an immediate ceasefire along existing front lines, followed by negotiations on security guarantees and sanctions relief.
Ukrainian President Volodymyr Zelenskyy agreed in principle, seeking minor clarifications and assurances on international monitoring. Moscow rejected the plan outright, insisting that any ceasefire must recognise Russia’s territorial claims.
A second proposal attempted to narrow differences by sequencing concessions. Under this framework, Ukraine signalled willingness to discuss neutrality and phased sanctions relief, while deferring territorial questions to later talks.
Zelenskyy accepted the proposal with modifications, stressing that Kyiv would not formally cede territory. Putin again dismissed the initiative, arguing that Ukraine and its Western backers were unwilling to address what the Kremlin calls the “root causes” of the conflict.
The third and most recent proposal was pitched as a compromise deal, combining limited ceasefire measures with economic incentives and diplomatic guarantees. Ukraine accepted the outline, even as Zelenskyy acknowledged it was politically and militarily difficult.
Russia, however, refused to engage, reinforcing the perception in Washington that Putin sees little incentive to negotiate while battlefield momentum remains on his side.
Moscow doubles down
Putin’s latest comments suggest that stance has hardened rather than softened. Speaking to defence ministry officials, the Russian leader said Moscow would “certainly” achieve its objectives in Ukraine, including seizing the territories it claims to have annexed. While he said Russia would prefer to resolve the conflict diplomatically, he made clear that military means would be used if talks did not meet Kremlin demands.
That position leaves the Trump administration with limited options. Diplomacy has failed to produce results, while Kyiv has signalled flexibility within clear limits. With Putin rejecting all three proposals, Washington is increasingly turning back to economic pressure as its primary lever.
Markets are already reacting to the possibility of tougher action. Oil prices briefly rose after reports of the sanction’s preparations, reflecting concerns that tighter restrictions on Russian exports could disrupt supply.
For now, the White House continues to frame sanctions as a contingency rather than a foregone conclusion. But with Putin showing no sign of retreat, the threat of a new economic offensive is becoming central to Washington’s strategy, a signal that if diplomacy is dismissed once more, the cost of saying no may soon rise sharply.
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