The European Union has imposed more economic sanctions on Russia, adding to U.S. President Donald Trump’s latest punitive measures against the Russian oil industry.

Trump said Oct. 22 that the sanctions "certainly will have an impact" on Russia and that he hopes Putin will "become reasonable."

President Vladimir Putin on Wednesday oversaw a test of Russia's nuclear forces on land, sea and air to rehearse their readiness and command structure.

Five days after calling for an end to the war in Ukraine along existing lines, which would reward Putin for invading, Trump announces sanctions on Russian oil.

After plans for a summit between Russian President Vladimir Putin and U.S. President Donald Trump were shelved, Ukraine is appealing to allies for more support in an effort to dial up the pressure on Russia.

Vice President JD Vance continues his trip to Israel today as the Trump administration seeks to shore up the ceasefire it brokered between Israel and Hamas.

The US is imposing sanctions on Russia’s two biggest oil companies, Rosneft and Lukoil, aiming to “degrade” Vladimir Putin’s war chest and support Donald Trump’s effort to end the war in Ukraine. The move marks the first time the Trump administration has imposed direct costs on Moscow over its full-scale invasion.

Shares are mostly lower in Asia following a retreat on Wall Street, while crude prices jumped more than $2 after U.S. President Donald Trump announced sanctions on Russian oil giants