U.S. President Donald Trump's administration has prepared additional sanctions it could use to target key areas of Russia's economy if President Vladimir Putin continues to delay ending Moscow's war in Ukraine,

Russia's top general, Valery Gerasimov, told Putin that the missile travelled 8,700 miles and was in the air for about 15 hours.

The Trump administration on Wednesday imposed sanctions on Russia’s two largest oil companies as it called on Moscow to agree to an immediate ceasefire in the war with Ukraine.

MOSCOW/WASHINGTON, Oct 24 (Reuters) - Kirill Dmitriev, Russian President Vladimir Putin 's special envoy for investment and economic cooperation, said on Friday he believes his country, the United States and Ukraine are close to a diplomatic solution to end Russia's war in Ukraine.

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.

Moscow has denied that the latest round of sanctions by the EU and the new strict measures by Washington will have any effect on its economy or its war strategy, signalling that Russia will not back down on its invasion of Ukraine or agree to a ceasefire.

The European Union has imposed more economic sanctions on Russia. The new penalties announced on Thursday add to measures by U.S.

It is increasingly difficult for Putin to finance his war. Every Euro we deny Russia is one it cannot spend on war."

U.S. officials also told European counterparts that they support the EU using frozen Russian assets to buy U.S. weapons for Kyiv.

Russian President Vladimir Putin's special envoy for investment and economic cooperation said he believes the United States, Ukraine, and Russia are close to a diplomatic solution to end the war in Ukraine.

Hungary’s Prime Minister Viktor Orbán was delighted to learn last week that Russia and the United States had chosen his country as the venue for another summit on ending the war in Ukraine.