US Treasury Secretary Scott Bessent stated on Wednesday that the US and Ukraine might sign an economic agreement next week, and President Donald Trump would not hesitate to increase sanctions on Russia if necessary.
“We have forwarded the complete economic partnership document, which is currently being reviewed by the Ukrainians, and we hope to move to full discussions and possibly even get signatures next week,” Bessent said in an interview with Fox News.
Trump said on Monday that he expects an agreement on revenue sharing between the US and Ukraine regarding Ukraine’s critical minerals to be signed soon.
The US announced on Tuesday that it had reached separate agreements with Ukraine and Russia on a ban on the use of force in the Black Sea and a commitment to not attack energy infrastructure.
However, both Ukraine and Russia accused each other on Wednesday of violating the ceasefire agreement regarding energy attacks.
Ukrainian President Volodymyr Zelensky urged Washington to impose additional sanctions on Moscow, claiming that Russia clearly does not seek “real peace.”
Regarding sanctions on Russia, Bessent stated that “it will depend on the next moves by the Russian leadership whether sanctions will increase or decrease, and President Trump, I think, would not hesitate to increase sanctions if it would give him leverage in negotiations.”
US Secretary of State Marco Rubio stated on Wednesday that the agreement reached with Ukraine and Russia the day before was principled, and Washington would evaluate the conditions set by Moscow and decide the way forward.
Shortly after the US announcement on the Black Sea ceasefire, the Kremlin stated that the agreements would not take effect unless certain Russian banks are connected to the international financial system.
French President Emmanuel Macron, during a press conference with Zelensky in Paris, stated that it is “too early” to discuss lifting sanctions on Russia.
“The issue of lifting sanctions will come up, but in due course as part of a firm and lasting peace. So, it’s too early,” Macron said.
Macron added that France would provide additional military aid worth about two billion euros to Ukraine, accusing Russia of reinterpreting and modifying recent agreements on limited ceasefire.
“I can announce today two billion euros in additional military support to Ukraine,” said Macron during a press conference with Zelensky.
Macron added that the new military equipment to be delivered to Kyiv would include anti-tank missiles, surface-to-air missiles, armored vehicles, and drones. Additional Mirage fighter jets would also be provided.
The two leaders discussed these issues ahead of a summit with around 30 leaders on Thursday, aimed at strengthening support for Ukraine, discussing a limited ceasefire, and Europe’s future role in deterring Russia from attacking when an agreement is reached.
“Ukraine has agreed to a ceasefire without conditions. We expect the same commitment from Russia,” said Macron, adding that it was premature to lift European sanctions on Russia.
“Today, I see that Russia is willing to change and reinterpret what was discussed and agreed upon by setting new conditions. Far from proving it wants peace, Russia continues to intensively strike Ukrainian territory every day,” said the French president.
