Speculation is mounting that Special Counsel Robert Mueller could soon resume issuing subpoenas and indictments, with one report claiming that Donald Trump Jr fears he could be indicted as soon as this week.

Trump Jr has been telling friends he is worried about the possibility of an imminent indictment, three unnamed sources told Vanity Fair.

One source speculated that Mueller could indict him for lying to investigators about whether he told his father in advance about a June 2016 meeting with Russians in Trump Tower to gather dirt on Hillary Clinton.

President Donald Trump is said to be 'depressed' by the prospect of his eldest son facing legal jeopardy. Photo / AP
President Donald Trump is said to be 'depressed' by the prospect of his eldest son facing legal jeopardy. Photo / AP

Trump Jr's lawyer, Alan Futerfas, denied the report, saying: "Don never said any such thing, and there is absolutely no truth to these rumours."

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According to Vanity Fair's source, President Donald Trump is "very upset" about the legal risks Trump Jr faces, the Daily Mail reported.

"The president is very depressed," this person said.

Tuesday's election ended a two-month 'quiet period' for Mueller's probe, and the special counsel is now expected to resume indictments and possibly attempt to force the President himself to testify under oath.

That could lead to a constitutional showdown over presidential powers or even an impeachment fight in the House of Representatives, newly under the control of hostile Democrats after Tuesday's midterm elections.

But Trump could also try to kill or suppress the probe after firing Attorney General Jeff Sessions on Wednesday, placing a loyalist in an oversight role over the investigation that Sessions had recused himself from.

Matt Whitaker, who will serve as acting attorney general until a replacement is confirmed.

Trump has continued pressing his view that Mueller leads a team staffed by Democrats operating under an illegal mandate.

He cited election exit polls which showed more voters disapprove of the Mueller investigation than approve.

"You mean they are finally beginning to understand what a disgusting Witch Hunt, led by 17 Angry Democrats, is all about!" Trump tweeted Wednesday.

The 18 month-old probe is believed to be preparing fresh indictments against people involved in Trump's 2016 election campaign. In addition to Trump Jr, targets could include former campaign consultant Roger Stone.

The special counsel also wants Trump himself to answer questions on allegations that he may have criminally obstructed the probe, a request the White House has been fighting since early this year.

The president's attorney Rudy Giuliani told the Washington Post in August that, if Trump is subpoenaed to testify, they are ready to "argue it before the Supreme Court".

Tough publicly quiet ahead of the election under Justice Department practice, Mueller's team hasn't been idle: they have been interviewing witnesses such as one-time campaign chairman Paul Manafort and Michael Cohen, Trump's right-hand man at the Trump Organisation.

Vanity Fair report claims Donald Trump Jr has told friends he fears an indictment. Photo / Getty Images
Vanity Fair report claims Donald Trump Jr has told friends he fears an indictment. Photo / Getty Images

Both could provide damning inside information that might add to the scalps Mueller has already taken.

In 18 months since he was named, 34 people and three companies have been charged by Mueller's team or in spinoff cases. Eight guilty pleas have resulted so far, and one jury trial conviction.

Crucially, Mueller has, by offering reduced charges, gained cooperation from people who once worked close to Trump: Manafort, Cohen, former national security advisor Michael Flynn and former deputy campaign chairman Rick Gates.

Although the probe was launched to investigate any 'links/coordination' between the Trump campaign and the Russian government, Mueller is believed to be focusing now on whether Trump obstructed justice through acts including firing former FBI chief James Comey.

If the Mueller team finds he did, his report could lead to impeachment charges being considered by the new Democratic majority in the House.

That could politically immobilize the president, even if the Republican-majority Senate protects the President from removal.