Trump–Putin Summit Cancelled: Moscow Refuses to Bend, Tensions Rise

The long-anticipated Budapest summit between Donald Trump and Russian President Vladimir Putin has been called off after Moscow refused to ease its demands over Ukraine. According to The Financial Times, the decision came after a tense phone call between U.S. Secretary of State Marco Rubio and Russian Foreign Minister Sergei Lavrov, during which the Russian side made clear it would not compromise. The White House has yet to comment publicly on the development.

Moscow Rejects Any Compromise Sources familiar with the talks revealed that Russia demanded that Ukraine must, before any ceasefire:

🔹 Cede additional territory,

🔹 Substantially reduce its military,

🔹 And formally renounce any intention to join NATO. Trump had reportedly backed a ceasefire along the current frontlines, but after receiving a new Russian memo repeating the same conditions, the White House decided to cancel the summit. According to The Financial Times, Rubio informed Trump after the call that “Russia hasn’t moved an inch,” prompting the administration to pull the plug on the meeting.

Trump’s Tone on Ukraine Shifts While Trump initially pledged firm support for Ukraine and a push to end the war, his tone has softened in recent weeks.

During Ukrainian President Zelensky’s recent visit to Washington, many expected Trump to approve long-range Tomahawk missiles, but he did not. The shift continued during his meeting with Chinese President Xi, where Trump — who once urged India to curb Russian oil imports — this time made no such demand of China, telling reporters, “We really didn’t discuss the oil.” When asked about ending the war, Trump described the situation as “stuck”: “We’re both going to work together to see if something can be done. We agree that both sides are locked in fighting, and sometimes you just have to let them fight. Crazy. But Xi’s going to help us, and we’ll work together on Ukraine.”

Sanctions Hit Rosneft and Lukoil Despite his softer rhetoric, Trump last week announced new sanctions against Russian oil giants Rosneft and Lukoil.

Western officials say the move could tighten Moscow’s war financing, as both companies have already announced plans to sell parts of their international assets. European diplomats, however, caution that the effects will likely be gradual rather than immediate. Oil exports from Russia’s ports — Primorsk, Ust-Luga, and Novorossiysk — still total about 2.33 million barrels per day, matching Moscow’s revised export plan. Traders say pressure is mounting, as India and Turkey, key buyers of Urals crude, are now considering compliance with Western sanctions. The U.S. has set November 21 as the final deadline to end all dealings with Rosneft and Lukoil. This could create payment and shipping turmoil, since oil shipments from the Baltic take about four weeks to reach Indian refineries, and banks may refuse to process payments, while Russian sellers reject payments in rupees.

Budapest Summit Falls Apart, Uncertainty Deepens The cancellation of the Trump–Putin meeting underscores how peace talks over Ukraine remain stuck in stalemate. Moscow refuses to compromise, Washington grows frustrated, and Chinese President Xi now emerges as a quiet player in the background. Markets are on edge — while diplomats speak of ceasefires, the geopolitical reality makes it clear that the road to peace remains long, uncertain, and full of obstacles.

#TRUMP , #china , #Geopolitics , #TradeWar , #putin

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