As the West tightens its economic noose on Russia, President Donald Trump has scheduled a surprise summit with Vladimir Putin in Alaska for next Friday. The meeting, aimed at ending the Ukraine war, comes just as Canada, the UK, and the EU announced a lower price cap on Russian crude oil, dropping it to $47.60 per barrel.
This dual-track approach of economic pressure and high-level diplomacy highlights the complex international strategy to end the conflict. The lowered oil price cap is designed to “ratchet up the economic pressure,” according to Canadian ministers, by limiting Moscow’s war revenue. It complements Trump’s recent 25% tariff on India for buying Russian oil.
Against this backdrop, Trump’s optimism about the talks is clashing with widespread skepticism. He has suggested a peace deal is “very close” and could involve swapping territory, a notion that deeply concerns European allies who fear Ukraine will be forced to make unacceptable concessions.
On the ground, Ukrainian forces are engaged in brutal fighting, particularly in the Pokrovsk area, and express little hope for a negotiated settlement. A drone commander for the Spartan Brigade stated bluntly, “It is impossible to negotiate with them.” This starkly contrasts with Trump’s claim that both Putin and Zelenskyy want peace.