Bessent's comments came as US officials and their European Union counterparts hold meetings Monday and Tuesday -- according to an EU official -- on stepping up coordination involving sanctions targeting Moscow.

The EU sanctions envoy David O'Sullivan, who has spearheaded the bloc's global outreach on preventing Moscow's evasion of sanctions, is leading its delegation in Washington.

Bessent wrote in a post on X after Monday's meeting that "all options remain on the table" as part of President Donald Trump's strategy to support peace negotiations between Moscow and Kyiv.

"Business as usual has not worked," Bessent added. "We are willing to take strong measures against Russia, but our European partners must fully join us in this to be successful."

He also emphasized that the United States and EU are aligned on the importance of ending war in Ukraine.

A source familiar with the discussions told AFP that Monday's meeting lasted less than two hours and covered potential economic sanctions and tariff actions.

US officials present included those from the Treasury Department, White House, State Department and US Trade Representative's office, the source added on condition of anonymity.

Bessent was joined by Treasury Undersecretary for terrorism and financial intelligence John Hurley.

Trump threatened on Sunday to impose more sanctions on Russia, after the Kremlin unleashed its biggest-ever aerial barrage at Ukraine.

Trump has threatened to penalize countries that buy Russian oil, seeking to cut off a key revenue source for Russian leader Vladimir Putin's war. But so far, he has only hit India with so-called secondary sanctions.

The EU, meanwhile, is preparing a fresh round of sanctions on Russia, marking its 19th since Moscow's invasion in 2022. It has said that this should include more secondary sanctions targeting countries that help Moscow avoid punishment.

Germany and France are pushing to target Russian oil giant Lukoil as part of the new round of EU sanctions, diplomats said Monday.