By Timothy Gardner

WASHINGTON (Reuters) -U.S. President Donald Trump could quickly lift some sanctions on Russia as a reward to Moscow if peace talks with Ukraine go well, but only Europe can take the bigger steps needed to significantly ease Russia’s cash crunch.

Trump in recent days has renewed a threat to impose more sanctions and tariffs on Russia and buyers of its oil if there is no progress toward a peaceful settlement in the 3-1/2-year-long war in Ukraine. But if talks go well, he could begin to lift some of the punitive measures.

Among Trump's options are releasing seized Russian assets, reopening U.S. lending to Russian banks and corporations, and allowing U.S. oil services companies to return to Russia’s far-flung oil and gas fields.

Without Europe’s cooperation, however, tho

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