The United States and European Union on Wednesday promised a fresh wave of sanctions against Russia for its relentless invasion of Ukraine, with Washington accusing Russian leader Vladimir Putin of not being "honest" in responding to its peace efforts.

US Treasury Secretary Scott Bessent told reporters in Washington the administration would unveil "a substantial pickup in Russia sanctions" by Thursday morning, without giving further details.

"President Putin has not come to the table in an honest and forthright manner, as we'd hoped," Bessent told broadcaster Fox Business separately, adding that Trump was "disappointed at where we are in these talks".

A spokesperson for the EU's current Danish presidency meanwhile told reporters the bloc had agreed to impose new measures aimed at crimping Moscow's oil and gas revenues.

That package -- the 19th from the EU since the Kremlin's 2022 invasion -- sought to keep the pressure on Russia in light of Trump's faltering peace push and an escalation of Russia's offensive.

Trump this week halted plans to meet Putin for talks in Budapest, saying he did not want a "wasted" meeting. He had said........

© International Business Times