Merz, Macron call for secondary sanctions on Russia 'supporters'

German Chancellor Friedrich Merz and French President Emmanuel Macron called for secondary sanctions aimed at undermining Russia's war machine, increasing pressure on Moscow as Trump's peace efforts sputter. To hamper Moscow's abilities to raise money from oil sales, Europe's two biggest economies will push for measures targeting "companies from third countries that support Russia's war," according to a joint statement on Friday after a meeting of German and French cabinet members. "We will continue to exert pressure for additional sanctions to be imposed by ourselves - and we are prepared to do so - but also by the US, to force Russia to return to the negotiating table," Macron said alongside Merz at a press conference.These comments come barely two days after US treasury secretary Scott Bessent called upon Europe to ramp up pressure on India and urging them to cut purchase of petrol, diesel and aviation fuel sold by the country's refineries.The initiative to widen sanctions comes as European leaders lose patience with the US president's reluctance to openly confront President Putin over his war in Ukraine. For Ukraine's allies, the hope is that the move could prod Trump to follow through on threats to widen sanctions against Kremlin.

Trump's latest two-week deadline is close to expiring with little clear progress made toward a peace deal. While Europe wants to put pressure on Putin, it needs US support to ensure Russia takes steps toward ending the war, according to an official close to the situation. BLOOMBERG & TNN