Dil Moktan

Russian President Vladimir Putin and U.S. President Donald Trump are set to hold high-level summit talks within the coming days, according to a confirmation from Moscow. The exact location of the meeting remains under wraps, but both nations have begun joint preparations to finalize the discussion topics, as stated by Kremlin foreign affairs adviser Yuri Ushakov.

The announcement follows a lengthy private meeting between Putin and Trump’s representative, Steve Witkoff, at the Kremlin, reportedly lasting nearly three hours. The discussions come at a critical moment, as the U.S. intensifies pressure on Russia to halt its war in Ukraine. Trump has warned that buyers of Russian oil could face secondary sanctions unless Putin agrees to a ceasefire by the end of the week.

Markets across Europe reacted positively to news of the potential summit. The Stoxx Europe 600 climbed 0.7%, while Ukraine-related investment baskets saw sharp gains—UBS’s Ukraine Reconstruction basket rose by over 3%, driven by an 11% jump in Raiffeisen Bank shares. Meanwhile, defense-sector stocks dropped, and the euro and several European currencies saw a brief surge.

Financial analysts suggested that the upcoming talks could signal momentum toward ending the conflict in Ukraine. Valentin Marinov of Credit Agricole noted that even without concrete details, the diplomatic movement suggests potential for de-escalation and reconstruction.

Ukraine’s dollar-denominated bonds led global emerging markets in gains Thursday. The Moscow Exchange also rose over 5%, fueled by gains in companies like Gazprom, Novatek, and Aeroflot. The ruble also appreciated slightly against the U.S. dollar.

Witkoff reportedly proposed a potential three-way meeting involving Ukrainian President Volodymyr Zelensky. However, Kremlin officials said their current focus remains solely on the Putin-Trump summit. Trump later told allies that he was optimistic about progress and open to a follow-up meeting with both leaders to negotiate peace
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