Trump is considering slapping Russia with fresh sanctions and tariffs, according to CBS. The potential sanctions on the table include a blanket ban on all Russian banks, as well as tariffs and oil sanctions. However, these measures might not have a significant impact on President Putin, especially when compared to the massive losses Russia would incur if military and intelligence aid to Ukraine were to be cut off.¹

Russia has shown remarkable resilience in the face of previous sanctions, finding ways to bypass them by importing goods through Kazakhstan and selling oil at discounted prices to China and India. This has led some to question the effectiveness of these measures in resolving the crisis.

Putin seems to be playing a clever game, watching as the transatlantic alliance frays at the edges. Another option being considered is sanctioning Chinese banks that do business with Russia, particularly those providing technological assistance on the battlefield.

In the context of Binance, this news could have significant implications for cryptocurrency markets and global trade. The potential sanctions and tariffs could lead to increased volatility in markets, making it essential for traders and investors to stay informed and adapt to changing circumstances.