"I am prepared to impose broad-based sanctions on Russia when all NATO countries agree to do the same and when all NATO countries stop buying oil from Russia," Trump said.

"This action, along with the NATO group's decision to impose 50-100% tariffs on China, which will be completely lifted once the war is over, will go a long way toward ending this deadly but foolish war," the US president added.

"China has a very strong control over Russia," and "these strong tariffs will disrupt that control," Trump said.

"If NATO does as I say, the war will end quickly, and all lives will be saved," the US president concluded.