FILE PHOTO: U.S. President Donald Trump and Russia’s President Vladimir Putin discuss through the household photograph session on the APEC Summit in Danang, Vietnam November 11, 2017.
Jorge Silva | Reuters
U.S. President Donald Trump mentioned Friday afternoon that he’ll meet with Russian President Vladimir Putin in Alaska on Aug. 15.
“The extremely anticipated assembly between myself, as President of america of America, and President Vladimir Putin, of Russia, will happen subsequent Friday, August 15, 2025, within the Nice State of Alaska,” Trump mentioned in a Reality Social submit. “Additional particulars to observe.”
Trump’s deadline for Russia to stop its conflict in Ukraine was slated to run out on Friday. Markets have been watching whether or not the White Home will proceed with steep penalties on Moscow’s oil shoppers.
Trump had pledged “secondary tariffs” of “about 100%” on Russia’s commerce companions, if Moscow doesn’t finish its invasion in Ukraine, setting an preliminary 50-day timeline that was later shortened.
Bloomberg Information reported Friday that U.S. and Russian officers, citing sources acquainted, are working towards a deal that will cease the conflict and permit Russia to occupy the territory it took throughout its yearslong invasion.
Trump has made ending the conflict in Ukraine a key overseas coverage goal of his second presidential mandate, reversing course on an preliminary thawing of White Home relations with Moscow to now pile on stress on the Kremlin for the lull in diplomatic progress.
Hoping for a negotiation to finish the conflict
Earlier within the week, U.S. Particular Envoy Steve Witkoff travelled for an eleventh-hour assembly with Putin, which Trump hailed as “extremely productive.”
“Everybody agrees this Struggle should come to an in depth, and we are going to work in the direction of that within the days and weeks to return,” he mentioned Wednesday.
In a Friday assertion, White Home Press Secretary Karoline Leavitt mentioned Trump’s high precedence stays discovering a negotiation to finish the conflict.
“On the President’s route, Particular Envoy Witkoff as soon as once more met with President Putin to debate potential paths to peace, and the President and his nationwide safety crew are discussing these paths with each the Ukrainians and the Europeans,” Leavitt mentioned. “Out of respect for our delicate diplomatic discussions with Russia, Ukraine, and our European allies, the White Home won’t touch upon alleged particulars within the information media.”
Ukraine President Volodymyr Zelenskyy mentioned in an X submit that he thought the U.S. was “decided” to get a ceasefire. In one other social media submit, he blamed Russia for the delay on motion towards peace.
On the coronary heart of Russia and Ukraine’s lack of ability to strike a ceasefire thus far have been variations over Putin’s maximalist calls for that the conflict can solely finish if Kyiv provides up its ambitions to hitch the NATO army alliance and if Moscow retains 4 Ukrainian areas annexed through the newest battle. Russia additionally seeks a last conclusion to the conflict and has beforehand known as for new elections in Ukraine.
Trump’s optimism appeared to have dwindled by Thursday, regardless of strategies that the U.S. president may meet his Russian counterpart over the approaching days.
Requested Thursday whether or not he stood by the Friday deadline to Putin, Trump mentioned, “We will see what he has to say. It’ll be as much as him. Very disenchanted.”
Secondary tariffs
In danger for Russia is the potential dissolution of its scant remaining shopper base for its crude and oil merchandise volumes, which nations inside the G7 are not permitted to tackle a seaborne foundation. Underneath a G7 scheme, nations exterior of the coalition retain important entry to Western delivery and insurance coverage mechanisms so long as they solely buy Russian provides below a worth cap.
Russia’s sanctions-sapped economic system closely depends upon its crude gross sales, amid rising isolation on the worldwide stage and dwindling progress anticipated close to 1.4% this 12 months, from 4.3% in 2024, in response to the World Financial institution’s June forecasts.
If it presses forward, the introduction of the so-called secondary tariffs and Trump’s more and more heated rhetoric would in flip strand Moscow’s patrons with a selection between persevering with with low-cost oil purchases or participating with the U.S. on favorable buying and selling phrases. A primary use of U.S. secondary tariffs is about to return in place on Aug. 27 by the use of an extra 25% in duties for frequent Russian oil client India.
“It is very vital that Trump has determined, although, to show up the warmth on his pal Narendra Modi in India, and never on Putin himself,” Tina Fordham, founding father of Fordham International Foresight, advised CNBC’s “Squawk Field Europe” on Friday.
“It tells us, actually, that President Trump may be very reluctant to truly put the stress instantly on Putin. And a lot so he is keen to jeopardize this relationship with India, which is a massively necessary ally inside the wider context of U.S.-China relations.”