Ukrainian Foreign Minister Andrii Sybiha believes that the latest sanctions imposed by the EU and the US are a real blow to Russia, although Moscow denies this. Details: Sybiha believes that this week marked a new stage in the pressure to force Russia to make peace,

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.

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.

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.

The Kremlin may have convinced itself that US President Donald Trump didn’t have the stomach to apply real pressure on Moscow to end the brutal conflict in Ukraine.

Ukrainian President Volodymyr Zelenskiy hailed "very important" new U.S. and European Union energy sanctions on Russia on Thursday, but said more pressure would be needed on Moscow to secure a ceasefire in the war.

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.