President Donald Trump said he would not impose new sanctions on Russia or its trading partners for now following his meeting with Vladimir Putin, saying the talks went “very well” despite their failure to reach a breakthrough on the war in Ukraine.

“Because of what happened today, I think I don’t have to think about it. I may have to think about it in two weeks or three weeks or something, but we don’t have to think about that right now. I think the meeting went very well,” Trump told Fox News after the summit, referring to the possibility of imposing tariffs on China for buying Russian oil.

Trump had threatened to hit Moscow with steep secondary sanctions if it did not agree to end its war on Ukraine by Aug. 8, but he backed down from that threat after Putin agreed to an in-person meeting.

Friday’s two hour and 45-minute meeting, considerably shorter than the six to seven hours the Kremlin had forecast, took place in Anchorage, Alaska, in a “three-on-three” format.