On Monday, Trump said that Russia's failure to reach a negotiated settlement with Ukraine within 50 days would lead to his administration imposing a 100% tariff rate on Russian imports as well as what he called "secondary tariffs" on countries that have continued to do business with Moscow.

Kremlin spokesman Dmitry Peskov, however, acknowledged the gravity of Trump’s statement, saying it was “serious" and that Moscow needed “time to study it"