US warns Russia: Ceasefire or face sanctions on central bank, oil export fleet

Russia will face economic consequences for stalling peace. In an interview with Fox News, US Special Envoy for Ukraine Keith Kellogg warned that the US is ready to significantly escalate sanctions against Russia if Moscow continues to delay talks in Ukraine.

On 10 May, Ukraine, together with its allies, France, Germany, the UK, and Poland, proposed a 30-day ceasefire. Should Russia refuse, Ukraine’s allies have vowed to increase sanctions. At the same time, Russian ruler Vladimir Putin has offered direct talks with Ukraine in Turkiye. While Ukrainian President Volodymyr Zelenskyy says he is willing to meet Putin in Istanbul, there has been no response from the Kremlin so far.

The proposed sanctions would target Russia’s central bank and shadow fleet, which are responsible for the majority of the country’s oil exports.

“We’ve warned Putin. This is serious. And our European partners agree with this approach,” said Kellogg.

He emphasized that these sanctions would be tougher than previous ones. He also noted that the US and Europe are now working in greater synchrony on the issue.

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