US president tells his Russian counterpart to ‘settle now and stop this ridiculous war’ or face repercussions

• Trump administration – live updates

Donald Trump has threatened Russia with taxes, tariffs and sanctions if a deal to end the war in Ukraine is not struck soon, as the new US president tries to increase pressure on Moscow to start negotiations with Kyiv.

Writing in a post on Truth Social on Wednesday, Trump said Russia’s economy was failing and urged Vladimir Putin to “settle now and stop this ridiculous war”.

Timing may show two leaders want to coordinate approach in engaging with new US administration over Ukraine

• US politics live – latest updates

The Russian president, Vladimir Putin, held a video call with his Chinese counterpart, Xi Jinping, in a symbolic display of unity just hours after Donald Trump was sworn in as the 47th president of the US.

Speaking from his Novo-Ogaryovo residence outside Moscow, Putin highlighted the close ties between the two countries, stating that their relations were based on “shared interests, equality, and mutual benefit“, calling Xi his “dear friend”.