Putin rages at Trump's sanctions but warns 'Russia will not cave'

Putin (Image: Getty)

Russian President Vladimir Putin has branded Donald Trump's US sanctions on Russia an "unfriendly act" as he warns Moscow will not cave over Ukraine.

Putin said Russia will never bow to pressure from abroad, addressing the Russian Geographical Society in Moscow, adding that "dialogue is always better than war". The sanctions were initiated in an attempt to put pressure on Russia. Putin stated that replacing Russian oil on the global market will lead to price increases, but he assured listeners the sanctions will not impact Russia's economy, according to state media TASS.

The Russian leader added that the sanctions do not work to strengthen relations between the two countries. It comes after the White House yesterday cancelled planned talks between Trump and Putin in Budapestto discuss resolving the war in Ukraine.

Discussing the summit during his speech today, Putin said Trump's comments most likely meant it was "postponed" and that the US had proposed the meeting.

The Russian President added they want to continue dialogue with the US, and there were many areas for cooperation between the two countries.

It comes after Putin's ally, Dmitry Medvedev, said Trump's decision was an "act of war against Russia", and that he had aligned with "insane Europe".

The deputy chair of the Security Council of Russia posted on his Telegram: "The United States is our adversary, and their talkative "peacemaker" has now fully embarked on the warpath against Russia."

He added: "They will, of course, say he couldn't help but be pressured in Congress, etc. This doesn't change the main point: the decisions taken are an act of war against Russia. And now Trump has fully aligned himself with insane Europe."