President Donald Trump canceled his planned meeting with Russian President Vladimir Putin in Budapest, Hungary, due to insufficient progress toward peace negotiations, the White House said.

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.

The U.S. president was given three options for sanctions after running out of patience with the Kremlin over the Ukraine war.

President Vladimir Putin on Wednesday oversaw a test of Russia's nuclear forces on land, sea and air to rehearse their readiness and command structure. The test included the launch of a land-based "Yars" intercontinental ballistic missile from a cosmodrome,

US sanctions are an 'unfriendly' act and 'will have certain consequences, but they will not significantly affect our economic well-being,' Vladimir Putin said