The United States President Donald Trump has warned Russia that it will impose “devastating” trade and economic sanctions if it refuses to agree to a 30-day ceasefire deal.

Speaking from the White House, Trump threatened: “We could do things very bad things for Russia. That would be devastating for Russia. But I don’t want to do that because I want to see peace.”

Britain and America have urged Russian President Vladimir Putin to agree to a ceasefire in Ukraine after Washington and Kyiv struck a deal towards ending the three-year war on Tuesday.

The ceasefire proposal was agreed upon by Ukrainian negotiators in Saudi Arabia, but its success hinges on Russia’s agreement.

Ukrainian President Volodymyr Zelensky confirmed his country’s acceptance of the ceasefire proposal, calling it a “positive step” toward peace.

Vice President JD Vance echoed Trump’s sentiments, stating that the situation is “very serious” and could lead to World War III.

“We’re going to know very soon” if Russia will agree to the ceasefire, Vance said.

Trump said “it is up to Russia now” as he piled pressure on Putin to agree to the ceasefire.

“Hopefully, we can get a ceasefire from Russia… that would be 80% of the way to getting this horrible blood bath [to end],” he said during an Oval Office meeting with the Irish Taoiseach Michael Martin.

The US has been working to persuade Russia to agree to the ceasefire, with envoy Steve Witkoff expected to hold talks in Moscow.

The situation remains tense, with Trump warning that the conflict could escalate into a global crisis, “This is a situation that could lead to World War III,” he said.