Tariff war: Putin claims sanctions won't impact Russia's economy; Trump says 'we'll know in 6 months'

US President Donald Trump on Thursday responded to Russian President Vladimir Putin’s claim that US sanctions would not impact Russia’s economy. Trump said he was “glad” that Putin held such a view but suggested that the true effects would become clear over time. "I am glad he feels that way. I'll let you know about it in six months from now. Let's see how it all works out..." Trump told reporters. The United States on Wednesday imposed sanctions on Russia’s two largest oil companies, Rosneft and Lukoil. In response, Moscow condemned the move as “unfriendly,” warning that such measures would do little to improve already strained relations with Washington. Putin acknowledged that the latest sanctions under Trump were “serious” and would have “certain consequences” for Russia, yet maintained that the country’s economy remained resilient and self-sufficient, downplaying the overall impact of Western restrictions.“They (sanctions) are serious for us, of course, that is clear. And they will have certain consequences, but they will not significantly impact our economic well-being,” Putin told reporters. He described the sanctions as an “unfriendly act” that “does not strengthen Russia-US relations, which have only just begun to recover," Putin said. “This is, of course, an attempt to put pressure on Russia,” Putin said. “But no self-respecting country and no self-respecting people ever decides anything under pressure.”

However, Putin emphasized that Moscow and Washington “have many areas in which they could cooperate,” provided both sides move away from “pressure tactics” and engage in “serious conversations about the long term.”US Treasury Secretary Scott Bessent said the sanctions were intended to cut off “the Kremlin’s war machine” and urged US allies to take similar action. “We encourage our partners to join us and adhere to these sanctions,” he said.Speaking shortly after the announcement, President Trump said that the measures would encourage dialogue between Moscow and Kyiv. “Hopefully he’ll become reasonable,” Trump said of Putin. “And hopefully Zelenskyy will be reasonable, too. You know, it takes two to tango, as they say.”The sanctions freeze all US-based assets of both Rosneft and Lukoil and bar American citizens and entities from conducting business with them.