Finnish PM: US sanctions key to pushing Putin toward negotiations

Finland’s former Prime Minister Alexander Stubb has urged the United States to implement a fresh round of sanctions aimed at crippling Russian industry and compelling President Vladimir Putin to engage in meaningful negotiations, he told POLITICO in an interview.

Stubb, who previously used a golf trip with former U.S. President Donald Trump to press for a tougher stance on Russia, emphasised that Washington must increase economic pressure on Moscow.

“Trump either goes for the carrot or the stick,” Stubb said. “He tried the carrot in Alaska and during his phone call with Putin. When he realised Russia was not interested in peace, he went for the stick. Right now we’re in stick mode. The next step should be sanctions—the sanctions package in the Senate.”

He was referring to a comprehensive Russia sanctions bill that has broad bipartisan support in the Senate but has stalled pending presidential approval. On Sunday night, Trump indicated the legislation would be “OK with [him],” allowing the Senate to move forward on Monday.

Last month, Trump imposed new sanctions on two of Russia’s largest oil companies, Rosneft and Lukoil, a step Stubb praised.

“The U.S. is right to advance this bill given Putin’s refusal to embrace a ceasefire,” Stubb said. “The only person Putin listens to is an oligarch. If Russia’s oligarchs conclude economically that this is too costly, things might start to happen.”

On the idea of Europe engaging directly with Putin, as suggested by Hungarian Prime Minister Viktor Orbán, Stubb stressed coordination: “Whenever that moment comes, which it will at some stage, it must be coordinated.” For now, he said he welcomed Washington’s leadership role. “If we can contribute, mediate, and hold discussions with the Ukrainians, Americans, and Europeans, that’s sufficient,” he added, emphasising that a just and lasting peace is more important than political photo opportunities.

Stubb expressed scepticism about an imminent ceasefire in Ukraine. He noted that he had pressed for a ceasefire deadline around Easter, prior to the August 15 Trump-Putin meeting in Alaska, and again ahead of the upcoming G20 summit in Johannesburg on November 22-23.

“Having spoken with President Zelenskyy on Friday, as well as with American and European contacts over the past weeks, I just don’t see a ceasefire in the cards,” Stubb said. He added that maintaining pressure on Russia and continued support for Ukraine remain the best ways to move toward a ceasefire.

Stubb’s Brussels visit coincides with EU efforts to ensure Ukraine’s financial stability beyond the first quarter of 2026. European Commission President Ursula von der Leyen has suggested using Russian frozen assets held in Belgium, though Belgian Prime Minister Bart de Wever has resisted due to concerns over Russian retaliation.

Speaking after his meeting with de Wever, Stubb said he did not want to apply “public pressure” but expressed confidence that Europe would ultimately secure a funding solution. He suggested combining multiple strategies outlined by the European Commission—including increasing the EU budget, raising debt in member capitals, and utilising Russian assets—rather than relying solely on seized funds.

“It could be a combination of these three options, but that’s for the European Council to decide, and of course for Belgium itself,” Stubb said. During his Brussels visit, he also met with von der Leyen and NATO Secretary-General Mark Rutte.

Earlier on November 17, Polish leader Donald Tusk condemned an explosion on a rail line used for delivering aid to Ukraine as an “act of sabotage.” Stubb responded: “This is the new normal. My recommendation is to stay calm, show a little more sisu [grit], and not get too flustered.”

By Tamilla Hasanova