“Putin will not negotiate as a loser,” one of his longtime associates tells TIME by phone from Moscow. “He knows that winners don’t get punished, and if he wins, all of this” — the sanctions, the tariffs — “will go away.”

U.S. President Donald Trump said he was disappointed but not done with Russian President Vladimir Putin, according to a BBC interview published on Tuesday, hours after Trump announced new weapons for Ukraine and threatened Russia with sanctions.