FILE PHOTO: U.S. President Donald Trump and Russia’s President Vladimir Putin speak through the household picture 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 Reality Social submit. “Additional particulars to observe.”
Trump’s deadline for Russia to stop its warfare 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 may cease the warfare and permit Russia to occupy the territory it took throughout its yearslong invasion.
Trump has made ending the warfare in Ukraine a key international 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 warfare
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 Warfare should come to an in depth, and we are going to work in the 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 high precedence stays discovering a negotiation to finish the warfare.
“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 group 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 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 incapacity to strike a ceasefire up to now have been variations over Putin’s maximalist calls for that the warfare 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 remaining conclusion to the warfare and has beforehand referred to as for new elections in Ukraine.
Trump’s optimism appeared to have dwindled by Thursday, regardless of ideas 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’ll be as much as him. Very disillusioned.”
Secondary tariffs
In danger for Russia is the potential dissolution of its scant remaining consumer base for its crude and oil merchandise volumes, which nations inside the G7 are now not permitted to tackle a seaborne foundation. Underneath a G7 scheme, nations outdoors of the coalition retain crucial entry to Western delivery and insurance coverage mechanisms so long as they solely buy Russian provides below a value cap.
Russia’s sanctions-sapped economic system closely will depend on its crude gross sales, amid growing isolation on the worldwide stage and dwindling progress anticipated close to 1.4% this yr, from 4.3% in 2024, in line 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 partaking 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 important that Trump has determined, although, to show up the warmth on his good friend Narendra Modi in India, and never on Putin himself,” Tina Fordham, founding father of Fordham International 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 instantly on Putin. And a lot so he is keen to jeopardize this relationship with India, which is a massively vital ally inside the wider context of U.S.-China relations.”
