Putin’s refusal to compromise on Ukraine, say analysts, is a colossal error costing Russia regional influence, lucrative energy markets and its place in the world.

Former Secretary of State Condoleezza Rice said she believes “this last week was a turning point” in the U.S. and European stance toward Ukraine and Russia.

On Monday, Trump said that Russia's failure to reach a negotiated settlement with Ukraine within 50 days would lead to his administration imposing a 100% tariff rate on Russian imports as well as what he called "secondary tariffs" on countries that have continued to do business with Moscow.