President Donald Trump signaled his expectations for his summit with Russian President Vladimir Putin, stating he was prepared to walk away if a deal could not be reached.
Trump: Deal or Walk in ‘First Two Minutes’
Trump has indicated that he will know within the “first two minutes” of the meeting whether a deal is possible. He also suggested that he is prepared to abandon the talks and allow the conflict between the two sides to continue.
Trump added, "I may leave and say good luck, and that'll be the end."
Putin and Trump are expected to discuss potential “land swaps”, despite Ukraine’s constitutional prohibition against such actions. During a news conference, the U.S. President dismissed Ukrainian President Volodymyr Zelenskyy‘s statements that his country’s constitution forbids him from ceding land to an invader. Trump stated that he would see what Putin has in mind and judge “if it’s a fair deal.”
Despite the high stakes, Trump did not mention any security guarantees for Ukraine. His Vice President, JD Vance, stated on Fox News that the U.S. was “done” funding the Ukraine war. The location and duration of the meeting remain undisclosed, adding to the sense of urgency.
First US-Putin Meet Since 2021 Spurs EU Concerns
The meeting marks the first between sitting U.S. and Russian presidents since June 2021. Trump’s comments have sparked concern among Ukrainians and European allies, who have pledged to continue arming Ukraine regardless of the meeting’s outcome. Zelensky, who has not been invited to the talks, expressed concern that Trump could be easily “deceived.”
European officials have also expressed worry over Trump’s approach to the negotiations, fearing that Putin could manipulate the situation to his advantage. In response, the EU has organized a conference call on August 13, involving Trump, Zelensky, EU leaders, and the president of the European Commission, Ursula von der Leyen, reported EU News.
Chinese President Xi Jinping welcomed continued U.S.-Russia contact, according to the South China Morning Post. Meanwhile, Indian Prime Minister Narendra Modi also spoke to Zelenskyy, urging a peaceful resolution of the conflict.
Energy markets have been under pressure ahead of the high-stakes Trump-Putin meeting. Over the past 5 days, the United States Oil Fund LP USO and iShares U.S. Oil & Gas Exploration & Production ETF IEO declined 2.23% and 1.73%, respectively.
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