In brief
US Treasury Secretary Scott Bessent announced an impending increase in sanctions against Russia due to escalating conflicts in Ukraine. This comes as NATO Secretary-General Mark Rutte meets with White House officials to discuss peace efforts, while further violence in Ukraine has claimed lives, including children. A proposed 12-point plan includes key strategies aimed at freezing front lines and supporting Ukraine's recovery efforts.
The US government will impose a substantial pickup in sanctions against Russia as the fighting in Ukraine continues, according to US Treasury Secretary Scott Bessent.
Bessent's comments came just before NATO Secretary-General Mark Rutte was due at the White House, in which he said he hopes to discuss how to deliver Trump's vision of peace in the conflict.
Earlier in the day, Rutte said he believes that Trump is the only one who can get this done.
At least seven people were killed, including two children, during intense Russian drone and missile strikes on Ukraine - just hours after Trump said plans for a meeting with Vladimir Putin in Budapest had been shelved.
Bessent provided no further details on the incoming sanctions, but said they would be announced either after the close this afternoon or first thing tomorrow morning.
US lawmakers, including Republicans, have been waiting for a go-ahead from the White House to vote on a bill that would enforce steep sanctions against Russia and also target countries that purchase oil from the Kremlin.
At the White House, Rutte was expected to discuss a 12-point plan formulated by European NATO allies and Kyiv, which would see the current front lines frozen, a return of deported children as well as a prisoner exchange between the two warring countries.
The plan also includes a war recovery fund for Ukraine, a clear pathway for Ukraine to join the EU, and increased military aid to Kyiv amidst economic pressure on Moscow.
Earlier this week, Trump said he did not want a wasted meeting with Putin in Budapest, and suggested that the main point of contention is Moscow's refusal to cease fighting along the current frontline.
Trump, for his part, has previously endorsed proposals to freeze the fighting along current frontlines, urging, Let it be cut the way it is. Go home. Stop fighting, stop killing people.
Russia, for its part, has pushed back against the freeze proposal, reaffirming its position on Ukrainian troop presence in the Donbas region.
Ukrainian President Volodomyr Zelensky has expressed a desire for the US to supply long-range US Tomahawk missiles, suggesting their threat may induce Russia to negotiate.
