'Yeah, I am': Trump says ready to impose 'second phase' of Russia sanctions

US President Donald Trump said he is ready to impose 'second phase' of sanctions on Russia.

"Yeah, I am," Trump said outside the White House on Sunday. His comments came after he was asked whether he was prepared to impose additional sanctions against Russia.

Previously, US Treasury Secretary Scott Bessent had commented saying Russian economy will "collapse" if more secondary sanctions are imposed on the countries that buy crude oil from Russia.

"If the US and the (European Union) can come in, do more sanctions, secondary tariffs on the countries that buy Russian oil, the Russian economy will be in full collapse, and that will bring President Putin to the table," Bessent said on NBC's Meet the Press.

Trump administration is "prepared to increase pressure on Russia," he added.

Last week, Trump said he has imposed an additional tariff of 25 per cent on India for buying oil from Russia.

Trump also added that he has not done "phase two or phase three yet", while mentioning that India is the "largest purchaser" of Russian oil "outside of China".

Many officials from the Trump administrations have made claims that India purchasing oil from Russia is financing Russia in war effort in Ukraine.

However, India has slammed the tariff imposed by the US and called it "unjustified and unreasonable".

Defending its purchase of Russian crude oil, India has been maintaining that its energy procurement is driven by national interest and market dynamics.

(With PTI inputs)