US to Announce ‘Substantial Pickup’ in Russia Sanctions: Bessent

The United States is preparing to impose additional sanctions on Russia, according to Treasury Secretary Scott Bessent. The administration will “announce after the close this afternoon or first thing tomorrow morning, a substantial pickup in Russia sanctions,” Bessent told reporters on Wednesday at the White House. The announcement comes as efforts to secure a cease-fire between Russia and Ukraine have stalled after U.S. President Donald Trump canceled a possible meeting with Russian President Vladimir Putin in Budapest, Hungary. “I don’t want to have a wasted meeting. I don’t want to have a waste of time,” Trump told reporters on Oct. 21....