Treasury secretary says U.S. and European Union must partner to 'collapse' Russian economy

The US Treasury secretary said Sunday the US is prepared to increase pressure on Russia following overnight attacks on Ukraine that killed four people and injured more than 44.

"We are prepared. We are prepared to increase pressure on Russia, but we need our European partners to follow us," Scott Bessent said on NBC News, emphasizing the need for coordinated action.

He said US President Donald Trump and Vice President JD Vance held "a very productive call with" European Commission President Ursula von der Leyen and followed up with Bessent to discuss joint US-EU actions targeting Russian actions.

"We are in a race now between … how long can the Ukrainian military hold up, versus how long can the Russian economy hold up," said Bessent.

He argued that combined US-EU sanctions and secondary tariffs on countries purchasing Russian oil could make Russia's economy collapse and "bring (Russian) President (Vladimir) Putin to the (negotiating) table."

The comments followed Russia's launch of 818 drones and missiles overnight, according to Ukraine's Air Force command, surpassing the previous record of 728 from July. The assault targeted multiple Ukrainian cities as the conflict continues into its third year.