MOSCOW, March 31 (Reuters) – The Kremlin confirmed on Monday that Russia and the United States are working on potential peace initiatives for Ukraine and broader bilateral ties, despite escalating tensions between the two nations. This comes as U.S. President Donald Trump expressed frustration over Russian President Vladimir Putin’s criticism of Ukrainian President Volodymyr Zelenskiy’s credibility.
In an interview with NBC News, Trump stated that he was “pissed off” with Putin and warned that he could impose secondary tariffs of 25%-50% on nations purchasing Russian oil if progress on a ceasefire remained stagnant.
Despite Trump’s anger, he later told reporters that he believed progress was being made “step by step.” Kremlin spokesperson Dmitry Peskov acknowledged the ongoing U.S.-Russia dialogue, emphasizing that Putin remains open to discussions with Trump.
“We are continuing to work with the American side, first of all, to rebuild our bilateral relations, which were severely damaged during the previous U.S. administration,” Peskov stated. He added that talks on a Ukraine peace settlement were ongoing but still lacked concrete details.
Trump’s Growing Frustration Over Ukraine
Since taking office in January, Trump has adopted a more conciliatory stance toward Russia, raising concerns among Western allies. However, his latest comments highlight growing impatience over the lack of progress in ending the three-year war in Ukraine.
Trump has repeatedly warned that failure to reach a ceasefire could escalate into a broader conflict between the U.S. and Russia. Finnish President Alexander Stubb, after meeting with Trump in Florida over the weekend, stated that Trump was eager to set a deadline for a ceasefire and suggested he was the only leader who could pressure Putin into negotiations.
“I came out with the impression that he’s the only person who can broker a peace deal because he’s the only one that Putin is afraid of and respects,” Stubb told Sky News.
Potential Economic Fallout from Tariffs
Trump’s threat to impose secondary oil tariffs could significantly impact global energy markets, as Russia is the world’s second-largest oil exporter. Oil prices remained largely unchanged on Monday, with traders uncertain about how such measures might be enforced.
China and India, which purchase around 80% of Russian crude exports, responded cautiously. Chinese traders appeared unfazed by Trump’s threat, while Beijing reaffirmed that its cooperation with Moscow was independent of external pressures. India declined to comment.
U.S.-Russia Cooperation Despite Tensions
Amid Trump’s push for a Ukraine ceasefire, discussions on minerals cooperation have emerged as a potential avenue for collaboration. While Trump claimed that Zelenskiy was reconsidering a proposed deal, Russian officials confirmed ongoing talks on rare earth metals and other joint projects.
Kirill Dmitriev, Putin’s investment envoy, stated that American companies had shown interest in these projects, though no concrete agreements had been reached. “The interest is mutual because these are mutually beneficial projects,” Peskov added.
Despite the tensions, both Moscow and Washington appear committed to maintaining diplomatic dialogue, with the possibility of a Trump-Putin call remaining open if necessary. However, the fate of peace in Ukraine—and the future of U.S.-Russia relations—remains uncertain.