The European Union is ready to impose tougher sanctions on Russia if progress on ending the war in Ukraine is not made this week, German Chancellor Friedrich Merz said on Tuesday, adding a new package of sanctions was prepared.

Russia’s economy is under growing strain as its invasion of Ukraine drags on and Western sanctions are undermining President Vladimir Putin’s ability to sustain his war, a leading European economist said after briefing finance ministers on Tuesday.

Witkoff and Kellogg, Trump's envoys, will travel to Turkey, according to Reuters, for bilateral talks between Russia and Ukraine. The war in Ukraine is currently centered in Istanbul. In the Turkish city,