Russia-Ukraine updates: US sanctions Russian military shipbuilder, diamond miner

President Joe Biden and Ukrainian President Volodymyr Zelenskyy spoke on the phone from 11:08 a.m. ET to 12:03 p.m. ET, according to the White House.

Biden said the U.S. will provide Ukraine with "$500 million in direct budgetary aid," according to a White House readout. The $500 million is for financial assistance that Ukraine can use for budgetary expenses such as paying salaries and maintaining government services, according to the White House.

"The leaders discussed how the United States is working around the clock to fulfill the main security assistance requests by Ukraine, the critical effects those weapons have had on the conflict, and continued efforts by the United States with allies and partners to identify additional capabilities to help the Ukrainian military defend its country," the White House said.

Zelenskyy in a tweet said they "talked about specific defensive support, a new package of enhanced sanctions, macro-financial and humanitarian aid."

-ABC News' Justin Ryan Gomez

Ukraine warned Norway on Wednesday that Russian forces have "amassed in the Arctic region" and will ultimately pose a threat to Europe.

"I think you are experiencing new risks near your border with Russia," Ukrainian President Volodymyr Zelenskyy said in an address to Norwegian lawmakers via video link from Kyiv. "A number of Russian troops that has no normal explanation has already been amassed in the Arctic region. For what? Against whom?"

"The future of Europe -- the whole continent from north to south, from west to east -- is being decided right now," he added. "On our land, on Ukrainian soil, in Ukrainian air, in Ukrainian sea. So that your soldiers do not have to defend NATO's eastern flank, so that Russian mines do not drift to your ports and fjords, so that your people do not have to get used to the sound of air alarms and so that Russian tanks are not amassed at your border, we must stop the aggression of the Russian Federation together and only together."

Zelenskyy said Russian forces are continuing to carry out relentless and indiscriminate attacks on his country. Although Ukrainian troops are holding off Russian advances, he warned that "the columns of Russian armoured vehicles are not decreasing."

"There are no forbidden targets for Russian troops. They attack everything," he told Norwegian lawmakers. "Ukraine's losses are enormous."

-ABC News' Fidel Pavlenko and Christine Theodorou

During a meeting in China on Wednesday, Russian Foreign Minister Sergei Lavrov and Chinese Foreign Minister Wang Yi doubled down on increasingly close ties between the two nations despite the invasion of Ukraine.

Wang acknowledged the "Ukraine problem" but stopped short of offering support.

Chinese officials have said repeatedly in the past weeks that they are "not a party" to the conflict but "support Russia and Ukraine in overcoming difficulties."

-ABC News' Karson Yiu

U.S. intelligence said it believes Russian President Vladimir Putin is being misinformed by his advisers on his troops' performance in Ukraine "because his senior advisers are too afraid to tell him the truth," a U.S. official told ABC News.

Based on declassified intelligence, the official said, "We have information that Putin felt misled by the Russian military. There is now persistent tension between Putin and the MOD [Ministry of Defence], stemming from Putin’s mistrust in MOD leadership. Putin didn’t even know his military was using and losing conscripts in Ukraine, showing a clear breakdown in the flow of accurate information to the Russian President."

The official continued: "We believe that Putin is being misinformed by his advisers about how badly the Russian military is performing and how the Russian economy is being crippled by sanctions, because his senior advisers are too afraid to tell him the truth."

-ABC News' Justin Ryan Gomez