President Vladimir Putin said on Thursday in Moscow that Russia will not bend under pressure from the United States or any other foreign power.

He warned that any military strikes deep inside Russia would face an “overwhelming” response. The remarks came a day after Donald Trump’s administration slapped sanctions on Russia’s two biggest oil companies, escalating tensions over the ongoing war in Ukraine, as was reported by Cryptopolitan.

The sanctions, announced on Wednesday, hit at the heart of Russia’s energy industry, sending global oil prices surging by nearly 5% on Thursday and also forcing India to finally review its Russian oil imports, after nine months of Prime Minister Narendra Modi holding out.

Putin dismissed the new restrictions as an “unfriendly act” that “will have certain consequences, but they will not significantly affect our economic well-being.” He said Russia’s energy sector remains confident and stable despite the mounting pressure.

Putin mocks Trump’s sanctions and warns of retaliation

Putin told reporters the sanctions were clearly “an attempt to put pressure on Russia.” He added, “No self-respecting country and no self-respecting people ever decide anything under pressure.” He even joked that the sanctions could stop the West from importing “Russian toilets.”

The president reminded journalists that Trump, during his first term, also imposed tough sanctions on Moscow.

He cautioned that any disruption to Russian exports, as the world’s second-largest oil supplier, would lead to a steep rise in oil prices, including at U.S. gas stations. “This could be politically uncomfortable for Washington,” said Putin.

Analysts in Moscow believe Putin is counting on global markets to punish the U.S. for its actions, as higher oil prices tend to hit American consumers quickly.

While the short-term financial hit to Russia may be modest, the new sanctions send a clear signal of Trump’s intent to squeeze the Kremlin’s finances and pressure Moscow into peace negotiations. It remains uncertain, however, whether India will actually cut its Russian crude imports.

Trump cancels summit and steps up pressure

During the U.S. election campaign, Trump promised to end the Ukraine war, which his administration views as a “proxy conflict” between Washington and Moscow. But after leaning on Volodymyr Zelenskiy to accelerate peace efforts, Trump has reportedly grown frustrated with Putin’s lack of cooperation.

On Wednesday, he abruptly cancelled a planned summit with the Russian leader in Budapest, calling off what was supposed to be a rare chance for direct dialogue. “The summit and venue were proposed by Trump,” Putin said. “Dialogue is always better than confrontation, than disputes, and definitely better than war.”

Trump described Russia as a “paper tiger” and followed up by ordering the U.S. Treasury to sanction two major Russian oil producers. Meanwhile, reports from The Wall Street Journal revealed that the administration lifted a key restriction on Ukraine’s use of long-range Western missiles.

Zelenskiy claimed Ukraine was developing domestic missiles with a 3,000-kilometer range, something Putin has since called “an attempt at escalation,” vowing that:- “If such weapons are used to attack Russian territory, the response will be very serious, if not overwhelming.”

Relations between the U.S. and the European Union have been strained this year over tariffs, trade disputes, and differing opinions on Russia and specifically, Putin.

But now frustration with Russia’s refusal to negotiate has brought Washington and Brussels closer together.

Andrew Puzder, the U.S. ambassador to the EU, told CNBC that both governments were now “on the same page.” He said, “President Trump has been adamant that he wants to see this war end. But when you see the negotiations aren’t going the way you want them to go, you need to ramp up the pressure.”

Puzder added that the coordinated sanctions were “an indication that we need to step it up. We’re willing to step it up, and hopefully Vladimir Putin will get the message.” He also pointed out that U.S.-EU relations have generally improved in recent months despite their differences.

“We may not always agree, but I think their motives are always good and I think they just look at things a little differently than we do,” Puzder said.

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