As an August 8th deadline looms for Russia to agree to a ceasefire in Ukraine, White House envoy Steve Witkoff is reportedly heading to Moscow on Wednesday in a last-ditch effort to negotiate a peace deal. President Trump has threatened to impose harsh sanctions if an agreement isn't reached, potentially targeting nations like India and China that continue to purchase Russian oil.

Trump's escalation comes after he gave Russian President Vladimir Putin a 50-day deadline in mid-July, which he then cut short last week. Despite the looming threat of sanctions, reports suggest that Putin remains undeterred. Kremlin spokesman Dmitry Peskov stated that officials are happy to meet with Witkoff and consider talks "important, substantive, and very useful".

The primary target of the potential sanctions is Russia's oil revenue. The U.S. is considering imposing 100% sanctions on nations that purchase Russian oil in an attempt to cut off funding for Russia's "war chest". Trump has also indicated he plans to raise tariffs on India "very substantially" within 24 hours, accusing them of "fueling the war machine". It remains unclear whether Trump will follow through with 100% secondary sanctions on both India and China.

This situation has drawn criticism, with the Kremlin stating that sovereign countries have the right to choose their trading partners and calling the attempt to force countries to sever ties with Russia "illegitimate". India has also responded, calling the potential tariff hikes "unjustified and unreasonable".

Despite the pressure, Russia appears confident in its ability to circumvent sanctions. Trump himself acknowledged that Russia has been "pretty good at avoiding sanctions" and called them "wily characters". Ukrainian President Volodymyr Zelenskyy has urged the U.S., Europe, and other nations to impose stronger secondary sanctions on Moscow's energy, trade, and banking sectors, indicating that Ukraine believes sanctions are impacting Russia's war efforts.

Steve Witkoff's role as envoy highlights the complex dynamics at play. Despite being the U.S. Special Envoy to the Middle East, Witkoff has met with Putin twice and has been involved in negotiations with Russia to end the war in Ukraine. He has expressed a belief that he has a "friendship" with Putin, who he says wants peace.

Witkoff's prior comments on the conflict have raised eyebrows. In the past, he has opposed sanctions against Russia for its occupation of Crimea. He has also echoed Russian government claims about the war, suggesting that NATO played a role in provoking the conflict and that many Eastern Ukrainians desire Russian rule.

As the deadline approaches, the world watches to see if Witkoff can broker a deal with Russia and avert the looming sanctions that could have significant global economic consequences.