FILE PHOTO: U.S. President Donald Trump and Russia’s President Vladimir Putin speak in the course of the household photograph session on the APEC Summit in Danang, Vietnam November 11, 2017.
Jorge Silva | Reuters
U.S. President Donald Trump stated 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 stated in a Fact Social put up. “Additional particulars to comply with.”
Trump’s deadline for Russia to stop its battle 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 purchasers.
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 battle and permit Russia to occupy the territory it took throughout its yearslong invasion.
Trump has made ending the battle 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 strain on the Kremlin for the lull in diplomatic progress.
Hoping for a negotiation to finish the battle
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’ll work in direction of that within the days and weeks to come back,” he stated Wednesday.
In a Friday assertion, White Home Press Secretary Karoline Leavitt stated Trump’s prime precedence stays discovering a negotiation to finish the battle.
“On the President’s course, 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 staff are discussing these paths with each the Ukrainians and the Europeans,” Leavitt stated. “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 stated in an X put up that he thought the U.S. was “decided” to get a ceasefire. In one other social media put up, 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 to this point have been variations over Putin’s maximalist calls for that the battle can solely finish if Kyiv provides up its ambitions to hitch the NATO army alliance and if Moscow retains 4 Ukrainian areas annexed in the course of the newest battle. Russia additionally seeks a last conclusion to the battle and has beforehand referred to as for new elections in Ukraine.
Trump’s optimism appeared to have dwindled by Thursday, regardless of recommendations that the U.S. president might meet his Russian counterpart over the approaching days.
Requested Thursday whether or not he stood by the Friday deadline to Putin, Trump stated, “We will see what he has to say. It should be as much as him. Very upset.”
Secondary tariffs
In danger for Russia is the potential dissolution of its scant remaining shopper base for its crude and oil merchandise volumes, which international locations throughout the G7 are now not permitted to tackle a seaborne foundation. Underneath a G7 scheme, nations exterior of the coalition retain vital entry to Western transport and insurance coverage mechanisms so long as they solely buy Russian provides below a value cap.
Russia’s sanctions-sapped economic system closely relies on its crude gross sales, amid growing isolation on the worldwide stage and dwindling development anticipated close to 1.4% this yr, from 4.3% in 2024, in accordance with 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 consumers 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 ready to come back in place on Aug. 27 by means of an extra 25% in duties for frequent Russian oil shopper India.
“It’s extremely 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 World Foresight, instructed CNBC’s “Squawk Field Europe” on Friday.
“It tells us, actually, that President Trump could be very reluctant to truly put the strain immediately on Putin. And a lot so he is keen to jeopardize this relationship with India, which is a vastly necessary ally throughout the wider context of U.S.-China relations.”
