Economic Warfare Escalates Ahead of Trump-Putin Peace Talks

Economic warfare against Russia has escalated significantly just days before President Donald Trump is set to meet President Vladimir Putin for peace talks. A coordinated move by Western allies to lower the Russian oil price cap and U.S. tariffs on third countries underscore the immense pressure being applied to the Kremlin.
On Friday, Canada, the UK, and the EU announced a new, lower price cap of $47.60 per barrel for Russian crude, aiming to choke off the revenue funding Moscow’s war in Ukraine. This follows Trump’s recent executive order placing a 25% tariff on India for its purchases of Russian oil, a clear warning to any country helping Russia evade sanctions.
This intensified economic campaign forms a powerful backdrop to the diplomatic talks scheduled for August 15 in Alaska. The message to Putin is clear: the financial pain will only increase without a genuine move towards peace.
However, Trump is also pursuing a controversial diplomatic angle, hinting at a peace deal that could involve territorial concessions to Russia. This has created a complex dynamic where allies are united on economic pressure but potentially divided on the ultimate political solution, a tension that will hang over the Alaska summit.