Russia's deputy foreign minister has canceled a planned meeting this Friday with the U.S. undersecretary of state, saying "the situation is not conducive to holding a round of this dialogue." This comes a day after the U.S. Treasury levied sanctions against 38 individuals involved in Russian incursions in Ukraine, including two Russian officials, and Trump welcomed the Ukrainian president to the White House.

• U.S. State Department on the cancelation: "Let's remember…these sanctions didn't just come out of nowhere… We remain open to future discussions."
• Why it matters: Trump's plan to develop "a better relationship" with Russia seems to be collapsing. Earlier this week Russia announced it would start targeting U.S. aircraft west of the Euphrates after the U.S. shot down a Syrian aircraft, and buzzed by a U.S. spy plane.
• Read more: Tillerson's plan to deal with the Kremlin.