President Donald Trump initiated separate phone calls Monday with Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskyy in a bid to broker a ceasefire in the Ukraine war.
What Happened: Trump expressed hopes for a “productive day” in a weekend social media post, indicating his first call would be with Putin at 10 a.m. Monday to discuss ending what he termed the “bloodbath” of a war that “should have never happened,” according to the Associated Press.
The calls represent a crucial test of Trump’s dealmaking reputation after claiming he could quickly resolve the conflict that began with Russia’s invasion in February 2022.
Treasury Secretary Scott Bessent warned Sunday on NBC’s “Meet the Press” that failure by Putin to negotiate “in good faith” could trigger additional sanctions against Russia. Bessent suggested former President Joe Biden-era sanctions were insufficient because they preserved Russia’s oil revenues to prevent U.S. price increases.
The diplomatic push comes amid escalating violence, with the Kremlin launching its largest drone barrage against Ukraine since the invasion began — 273 exploding drones and decoys targeting Kyiv, Dnipropetrovsk and Donetsk regions.
Zelenskyy, who met with Vice President JD Vance and Secretary of State Marco Rubio in Rome on Sunday, has insisted on an “unconditional ceasefire” before any negotiations. Putin recently rejected Zelenskyy’s offer to meet in Turkey, though both countries committed to exchanging 1,000 prisoners of war each.
Why It Matters: Former U.S. Ambassador to Ukraine Bridget Brink, who resigned last month, expressed concern about Trump’s approach, stating, “Peace at any price is not peace at all. It’s appeasement.”
The outcome of these diplomatic efforts could significantly impact market stability, particularly if new sanctions target Russia’s energy sector, potentially disrupting global oil supplies and prices.
Meanwhile, Ukraine and the U.S. have revived discussions on a joint investment fund for post-war reconstruction, signaling potential future opportunities for investors in Ukrainian energy infrastructure and mineral resources.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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