Waves of Russian missiles and drones battered Ukraine overnight on October 22, killing six people, including two children, and wounding dozens more. The large-scale bombardment occurred just hours after reports that a planned meeting between Russian President Vladimir Putin and U.S. President Donald Trump in Budapest, Hungary, had been canceled.

Also last month, Sberbank CEO German Gref, one of Russia’s top banking chiefs, said the economy was in “technical stagnation,” And in June, Economy Minister Maxim Reshetnikov warned that Russia was “on the brink” of a recession.

Vladimir Putin responded to President Trump slapping sanctions on Russia's two biggest oil companies in a U.S. policy shift over the war in Ukraine.

For months, President Donald Trump resisted calls to slap new sanctions on Russia, believing he could end the war in a deal with Vladimir Putin — including with a quick peace summit in the coming weeks in Budapest.

President Trump on Saturday said the lack of progress toward peace between Russia and Ukraine amid their more than three-year war is “very disappointing.” The president has attempted to chart a course for peace since the start of his second administration after making a pledge to end the war in a day on the

He tells Volodymyr Zelensky "your security is our security", and says European allies are "strengthening Ukraine's air defence" and will "keep up the military pressure" on Moscow Prime Minister Keir Starmer is expected to urge fellow coalition of the willing countries to provide Ukraine with more long-range missiles after a successful attack on Russia earlier this week.

The sanctions could be imposed if Russian President Vladimir Putin shows no interest in meaningful negotiations and continues to delay ending Russia's war in Ukraine, Reuters reported.