The White House announced that Trump will make a statement at 22:00, Mecca time.
Key points so far:
Trump stated that he believed it was the right time to impose sanctions on Russia.
He confirmed the cancellation of his meeting with Putin, saying that the timing was not right.
Oil prices jumped more than 5% after the U.S. revealed new sanctions against Russian companies.
The latest sanctions package targets Rosneft and Lukoil.
The U.S. urged Moscow to agree to an immediate ceasefire, according to an official statement.
Global markets are on alert, with oil prices rising sharply and both gold and Bitcoin showing volatility amid rising geopolitical tensions.
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