US to announce new sanctions on Russia within 24 hours, says Treasury Secretary Scott Bessent

The Trump administration is preparing to announce a new wave of sanctions targeting Russia within the next 24 hours, as Russian missile and drone attacks continued to inflict casualties across Ukraine.

Treasury Secretary Scott Bessent told reporters on Wednesday (October 22) that the sanctions could be unveiled “after the close this afternoon or first thing tomorrow morning,” signaling a “substantial pickup” in US measures against Moscow.

Speaking at the White House, Bessent did not provide specifics on the targets or scope of the upcoming sanctions but emphasized that they are part of the ongoing effort to pressure Russia economically.

“We are going to either announce after the close this afternoon or first thing tomorrow morning a substantial pickup in Russia sanctions,” he said.

Bessent said President Trump expressed frustration over the slow progress in negotiations to end the war in Ukraine.

The announcement comes as NATO Secretary General Mark Rutte visited Washington for talks and was preparing to meet President Donald Trump at the White House.

Deadly Russian attacks in Ukraine

The sanctions update follows a series of devastating Russian strikes across Ukraine. Russian drones and missiles targeted at least eight cities and a village near Kyiv, killing six people, including a mother and her two young daughters, and injuring 29 others, including five children, according to Mykola Kalashnyk, a regional head near the capital.

In Kharkiv, a kindergarten was hit while children were inside, leaving one person dead and six injured, although no children were harmed. Mayor Ihor Terekhov said many of the children were in shock.

The Ukrainian president Volodymyr Zelensky confirmed that the attacks targeted 10 regions, including Kyiv, Odesa, Chernihiv, Dnipropetrovsk, and Zaporizhzhia. Ukraine’s air force reported that Russia launched 405 strike and decoy drones along with 28 missiles, primarily targeting Kyiv.

Peace efforts stall amid frustration

Efforts to broker peace remain stalled. Trump postponed a planned meeting with Russian President Vladimir Putin in Budapest, saying he did not want a “wasted” encounter. European leaders have accused Putin of stalling negotiations.

Zelensky commented on Trump’s peace proposal to freeze the conflict along current front lines: “Trump proposed ‘Stay where we stay and begin conversation. I think that was a good compromise, but I’m not sure that Putin will support it, and I said it to the president.”

The Kremlin cautioned that preparations for any summit with Trump would take time. Spokesman Dmitry Peskov said,

“No one wants to waste time: neither President Trump nor President Putin.”

Ukraine strikes key Russian infrastructure

Ukraine’s military reported overnight attacks on strategic Russian sites, including a chemical plant in Bryansk producing ammunition and missile fuel, and mechanical and oil facilities in Mordovia and Dagestan. Russian defenses claimed to have downed 33 Ukrainian drones, disrupting air traffic near St. Petersburg.

Sweden to explore fighter jet sale

Zelensky visited Oslo and Stockholm, where he signed an agreement with Swedish Prime Minister Ulf Kristersson to explore the purchase of up to 150 Gripen fighter jets for Ukraine over the next decade. Ukraine has already received F-16s from the US and Mirages from France.

EU approves 19th sanctions package on Russia

European Union member states have approved a 19th package of sanctions against Russia over its war in Ukraine, including a phased ban on imports of Russian liquefied natural gas (LNG), the Danish rotating presidency of the EU announced on Wednesday (October 22).

“We are very pleased to announce that we have just been notified by the remaining member state that it’s now able to lift its reservation on the 19th sanctions package,” the Danish presidency said in a statement.

Slovakia lifts holdout after securing assurances

Slovakia was the final holdout after EU countries agreed on the final text last week. Prime Minister Robert Fico had sought assurances from the European Commission regarding high energy prices and flexibility in aligning the EU’s climate targets with the needs of carmakers and heavy industry.

Following Slovakia’s approval, the presidency confirmed that “a written procedure for Council approval has been launched. If no objections are received, the package will be adopted tomorrow by 8 a.m.”

LNG import ban to roll out in two phases

The sanctions package introduces a ban on Russian LNG imports in two stages. Short-term contracts will end within six months, while long-term contracts will be terminated starting January 1, 2027. The timeline accelerates the European Commission’s roadmap by a year, moving the EU closer to ending its dependence on Russian fossil fuels.

Additional measures on diplomats and shadow fleet

The new package also includes travel restrictions on Russian diplomats and expands the blacklist of Moscow’s so-called shadow fleet — tankers used to evade oil sanctions. An additional 117 vessels have been added, bringing the total to 558.

The latest measures highlight the EU’s ongoing efforts to tighten economic pressure on Moscow as the war in Ukraine enters its third year.

Key Takeaways

-Trump administration to announce “substantial pickup” in Russia sanctions within 24 hours.

-Russian drone and missile strikes killed at least six civilians, including children, across multiple regions.

-Trump postponed planned summit with Putin; peace talks remain stalled.

-Ukraine struck strategic Russian infrastructure in retaliation.

-Sweden may supply Ukraine with Gripen fighter jets to bolster air defenses.

-EU approves 19th sanctions package against Russia.

-Includes phased ban on Russian LNG imports — full ban effective January 2027.

-Slovakia lifts its objections after energy and industry assurances.

-Adds 117 vessels to Russia’s shadow fleet list and new travel curbs on diplomats.