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, as well as security pathways and a clear pathway for Ukraine to join the EU, as well as increased military aid to Kyiv and 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 front line.
A preparatory meeting between US Secretary of State Marco Rubio and Russian Foreign Minister Sergei Lavrov was due to be held this week - but the White House said the two had had a productive call and that a meeting was no longer necessary. Trump, for his part, has previously endorsed proposals to freeze the fighting along current frontlines.
Russia has pushed back against the idea, with Kremlin spokesperson Dmitry Peskov stating that the consistency of Russia's position doesn't change which refers to its desire for Ukrainian troops to leave the Donbas region in eastern Ukraine.
Ukrainian President Volodomyr Zelensky has expressed a desire for the US to supply long-range US Tomahawk missiles to his forces, believing it may bring Russia to the negotiating table.
