President Donald Trump may have expected a Russian shudder of fear to greet his threat of “very severe tariffs” on the country if it didn’t agree a ceasefire in Ukraine.

In response to the escalating threat, President Trump confirmed that the U.S. will send additional Patriot air defense missiles to Ukraine. He noted that the European Union would finance the purchase of what he described as "various pieces of very sophisticated" U.S. weaponry.

Oil prices edged lower on Tuesday after U.S. President Donald Trump's 50-day deadline for Russia to end the Ukraine war and avoid sanctions eased concerns about any immediate supply disruption. Brent crude futures were down 15 cents at $69.

Russia launched four missiles and 136 drones into Ukraine overnight into Monday morning, according to Ukraine's air force.

The US president says he is "disappointed" in Putin and will be sending "top-of-the-line" weapons to Ukraine, via Nato.

U.S. President Donald Trump's threat to choke off Russia’s oil revenue via secondary sanctions would deal a hammer blow to Moscow's finances, but markets are betting that the risk of higher energy prices will keep Washington from following through.

Asked if he trusted Putin, Mr Trump took a lengthy pause before saying: "I trust almost nobody to be honest with you.