Bessent tells Russia: pressure stays on economy until war ends

US Treasury Secretary Scott Bessent met Russian Finance Minister Anton Siluanov at a G20 finance leaders' gathering in Asheville, North Carolina, telling him that no agreements with Moscow are possible until its war against Ukraine ends, a source told Reuters. Siluanov's appearance marked Russia's first in-person G20 presence since the invasion, unsettling European officials who are drafting further sanctions.

Britain moved on Monday to tighten pressure on the shadow financial networks sustaining Russia's war economy, doubling penalties for sanctions violations from 50% to 100% of the breach's value, according to Treasury minister John Healey. The UK's National Crime Agency issued a nationwide alert over the Kremlin-linked A7 network, allegedly used to move funds and dodge restrictions.

Strikes and border tensions

Explosions hit Kyiv in the early hours of Tuesday, injuring four people, including two children, with authorities urging residents to shelter. Air raid alerts covered most of Ukraine. Russia launched 800 jet-powered drones at Ukraine over the previous four days, an upgrade from earlier propeller-driven Shahed models. President Volodymyr Zelenskyy said four Ukrainian companies have developed interceptor drones, with one boasting the most effective technology so far.

Latvia's military said Nato fighter jets were scrambled early Tuesday after a warning of a possible air threat near Ludza, close to the Russian border. Russia's Leningrad region separately issued its own drone threat alert.

Other developments

Ukrainian drones struck another Wildberries warehouse, this time in Ekaterinburg, Russia, with no casualties reported. The EU's naval mission in the Mediterranean boarded the tanker MV Sun, suspected of sailing under a false flag, EU foreign policy chief Kaja Kallas said. India's prime minister, Narendra Modi, told Vladimir Putin during talks in Kyrgyzstan that the war must end for humanity's sake. Zelenskyy said he held a constructive call with US envoys Steve Witkoff and Jared Kushner about finalising a visit to Ukraine, while Polish prosecutors are probing a drone factory fire as suspected foreign sabotage.