President Donald Trump has threatened ‘devastating’ consequences for Russia if Vladimir Putin does not agree to a 30-day ceasefire with Ukraine. 

Trump issued the ultimatum while discussing his team’s efforts to bring an end to the brutal conflict, which he said could lead to World War III.

When asked what the U.S. could do to pressure Russia into peace, he said: ‘There are things that wouldn’t be pleasant in a financial sense. I can do things financially that would be very bad for Russia. I don’t want to do that because I want to get peace.’

Trump added: ‘In a financial sense, yes, we could do things that would be very bad for Russia, that would be devastating for Russia. But I don’t want to do that.’

He spoke after Secretary of State Marco Rubio and national security advisor Mike Waltz announced that Ukraine had agreed to a 30-day ceasefire – if Russia also backs it.

Trump first issued a trade threat against Russia days ago online.

It was a notable change from his previous posture of praising Putin as smart, or even expressing appreciation for the Russian position. 

Two weeks ago, he held an angry Oval Office meeting with Ukrainian President Volodymyr Zelensky.

The U.S. has already imposed a series of economic sanctions on Russia, and individual Russian oligarchs, after the country seized Crimea in 2014 and then launched a full scale invasion in 2022. 

Now, the fate of a potential ceasefire is in Russia’s hands, and Trump is turning up the economic heat on the aggressor. 

‘There are things that wouldn’t be pleasant in a financial sense. I can do things financially that would be very bad for Russia,’ Trump said, when question about what he can do if Russia won’t agree to a ceasefire amid its three-year war on Ukraine

He pointed to upcoming talks for which his envoy Steve Witkoff is traveling to Moscow.

Trump then turned to J.D. Vance, making fun of his shamrock socks while meeting with the Irish Taoiseach in the Oval Office. 

The president then said: ‘So we have people going over there (to Moscow). Mr. VP, you have anything to say about this? Because you’re very much involved.

Vance said: ‘We’ve got some conversations that are happening on the phone and in person with some of our representatives over the next couple of days.

‘As the President said, we think we’re in a very good place where the Ukrainians have agreed with ceasefire, and we’re going to see whether we can get the Russians to agree to a ceasefire too.’

Trump invited JD Vance to speak, during a meeting where he made fun of his shamrock socks

Trump was asked if he believed Putin would honor a ceasefire, having broken them in the past. 

He said: ‘We haven’t spoken to him yet with substance, because we just found out. We’re going to know very soon. I’ve gotten some positive messages, but a positive message means nothing. Very serious situation. This is a situation that could lead to World War III.’

On Tuesday, after talks in Saudi Arabia, Ukraine agreed to a U.S. proposal for a 30-day ceasefire with Russia, and the U.S. announced a lifting of the pause on military aid and intelligence sharing with Kyiv.

Secretary of State Marco Rubio said afterward that the ball was now in Russia’s court. 

‘We´re going to tell them this is what’s on the table. Ukraine is ready to stop shooting and start talking. And now it’ll be up to them to say yes or no,’ Rubio said. 

Secretary of State Marco Rubio and U.S. National Security Advisor Mike Waltz announced the breakthrough after their meeting with Ukrainian officials

Russian President Vladimir Putin now must decide whether to take the temporary ceasefire after achieving battlefield gains, even while hemorrhaging fighters 

 Trump issued the threat after being asked if there was anything he could do to pressure Russia into accepting the US-brokered ceasefire. He was meeting with Taoiseach Micheal Martin before a St. Patrick’s Day reception

This is the closest we have been to peace in this war. We are at the 10th yard line, and the President is expecting the Russians to help us run this into the end zone,’ said White House Press Secretary Karoline Leavitt

Putin in the past has ruled out a short-term truce as benefitting Ukraine.

He has said: ‘As for the settlement of the situation, I would like to emphasize that it shouldn´t be aimed at a brief truce – some sort of a break for regrouping troops and rearmament in order to continue the conflict – but a long-term peace.’

But now Russia risks alienating the U.S. by rejecting the offer at a time when Trump has taken multiple steps to put U.S.-Russia relations on a better footing.

He has also been going after NATO allies and launching a series of trade wars with traditional partners. 

Trump raised the issue of slapping sanctions on Russia on March 7, after the U.S. paused security aide and vital intelligence sharing following his spat with Zelensky.

‘Based on the fact that Russia is absolutely “pounding” Ukraine on the battlefield right now, I am strongly considering large-scale Banking Sanctions, Sanctions, and Tariffs on Russia until a Cease Fire and FINAL SETTLEMENT AGREEMENT ON PEACE IS REACHED,’ Trump wrote then on Truth Social.

‘To Russia and Ukraine, get to the table right now, before it is too late. Thank you!!!’

Russia has continued to hammer Ukrainian cities and civilian areas through missile and drone attacks.

Ukraine launched its largest drone attack yet on Moscow hours before talks between its officials and the U.S. began in Saudi Arabia. 

At the White House Wednesday afternoon, press secretary Karoline Leavitt said National Security Advisor Waltz told her that he spoke with his Russian counterpart today.

‘And the President’s team continues to be engaged. As you all know, Mr. Witkoff is traveling to Moscow later this week, and we urge the Russians to sign on to this plan. This is the closest we have been to peace in this war. We are at the 10th yard line, and the President is expecting the Russians to help us run this into the end zone,’ she said.