In a post to Truth Social, President Trump threatened to hit Russia with tariffs if Vladimir Putin refuses to make a deal on the Ukraine war.

President Donald Trump threatened on Wednesday to impose stiff taxes, tariffs and sanctions on Russia if an agreement isn’t reached to end the war in Ukraine, a warning that is likely fall on deaf ears in the Kremlin.

President Trump has demanded Russia stop its “ridiculous war” with Ukraine or face stiffer penalties — but the U.S. doesn’t appear to have much financial leverage left after a raft of prior sanctions.