WASHINGTON — U.S. and European officials met at the U.S. Treasury Department on Monday evening to discuss a range of economic measures, including new sanctions and potential tariffs on Russian oil purchases, a person familiar with the meeting told The Associated Press.
The meeting, which lasted less than two hours, brought together senior staff from the Treasury Department, the White House, the State Department and the U.S. Trade Representative, alongside a European delegation with officials focused on energy, sanctions, financial services and trade. U.S. officials stressed that President Donald Trump is prepared to take significant actions to press Moscow to end the war in Ukraine but expects full cooperation from European partners on any steps taken, the person said on condition of anonymity to discuss the private session.
Officials discussed tariff actions, the need for collective coordination on sanctions, and options for managing Russian sovereign assets that remain immobilized largely in Europe, according to the person. The teams planned to meet again Tuesday to continue deliberations, the person said.
Treasury Secretary Scott Bessent participated in Monday’s meeting, as did officials from the White House, State Department and the U.S. Trade Representative’s office. European participants included staffers dealing with energy policy, sanctions enforcement, financial services and trade matters. The meeting was described as a working session on mechanisms to increase economic pressure on Russia amid ongoing conflict.
The talks follow a series of diplomatic engagements by President Trump aimed at brokering a resolution to the war. Trump held a summit with Russian President Vladimir Putin last month in Alaska and has sought to arrange direct talks between Putin and Ukrainian President Volodymyr Zelenskyy. In August, the White House issued a deadline for Russia to end its invasion; that deadline has since passed.
Trump told reporters Sunday that he expected to speak with Putin in the coming days and acknowledged the difficulty of resolving the conflict. "I believe we're going to get it settled," Trump said, adding, "I have confidence we're going to get it done."
European capitals have long debated how to balance energy needs and economic pressure on Moscow, and officials at Monday’s meeting weighed options that could include coordinated tariffs on Russian oil purchases as a means to reduce revenue to the Kremlin while mitigating market disruption. Participants also examined legal and financial steps related to sovereign assets that were frozen earlier in the conflict and remain largely immobilized in European financial systems.
U.S. and European officials have previously taken actions to limit Russia’s access to financial markets and technology; the latest discussions signal interest in additional tools to squeeze state revenue streams and target economic sectors that fund the war effort. Any new measures would require coordination among allies to be most effective, according to officials aware of the talks.
The White House, Treasury Department and European officials did not immediately respond to requests for comment. The officials involved said the meetings are part of an ongoing diplomatic effort to present a unified transatlantic approach should leaders decide to impose additional sanctions or trade measures.
The outcome of the discussions could shape forthcoming policy decisions in Washington and European capitals as leaders evaluate how to pressure Moscow while managing energy markets and legal constraints tied to frozen assets. Officials planned to continue talks Tuesday and in the coming days to refine proposals and consider the political and economic implications of potential actions.