U.S. and Russian officials are set to meet for what are expected to be the most significant talks to date between the two former Cold War foes on ending Moscow's war in Ukraine.

The two sides are expected to discuss ways to end the conflict in Ukraine and restoring American-Russian relations.

Ukraine and the Europeans were frozen out of the talks at this stage.

Ukraine says no peace deal can be made on its behalf.

European leaders gathered in Paris on Monday for an emergency summit to agree on a unified strategy after they were blindsided by Trump.

The European leaders said they would invest more in defence and take the lead in providing security guarantees for Ukraine.

"Everyone feels the great sense of urgency," Dutch Prime Minister Dick Schoof said on X. "At this crucial time for the security of Europe we must continue to stand behind Ukraine."

"Europe will have to make a contribution towards safeguarding any agreement, and cooperation with the Americans is essential," he said.

Who is at the US-Russia meeting in Saudi Arabia?

U.S. Secretary of State Marco Rubio, White House national security adviser Mike Waltz and Middle East envoy Steve Witkoff will represent President Donald Trump.

For Russian President Vladimir Putin's foreign policy adviser,

On the Russian side it will be Foreign Minister Sergei Lavrov and Yuri Ushakov, a foreign policy advisor to Russian President Vladimir Putin.

Kirill Dmitriev, a U.S.-educated former Goldman Sachs banker, might join the delegation to discuss any economic questions that arise, Ushakov said.

The discussions in Riyadh could pave the way for a summit between Trump and Putin as the two sides discuss restoring Russian-American relations.

Russia says talks with US will have no impact on cooperation with Iran

The start of Russia-U.S. talks will have no impact on Moscow's cooperation with Tehran, the TASS news agency reported on Teusday, citing Kremlin spokesman Dmitry Peskov.

Russia is ready to help Iran in solving problems related to its nuclear program, Peskov added.

Zelenskiy has said Ukraine won't accept deals reached behind its back

At a security conference in Munich at the weekend Ukrainian President Volodymyr Zelenskiy said Ukraine would never accept any peace deals reached behind its back or without Kyiv's involvement - an implicit message to Trump.

In a speech to the Munich Security Conference, Zelenskiy also called on Europe to create its own armed forces, urging the continent's leaders to decide their own future and saying Ukraine's armed forces alone were not enough for their security.

"Ukraine will never accept deals made behind our backs without our involvement. And the same rule should apply to all of Europe," he said.

US oil majors will return to Russia - Dmitriev

Kirill Dmitriev added that he believed US oil majors that had “very successful business in Russia” would “at some point” return.

“Why would they forgo on these opportunities that Russia gave them to have access to Russian natural resources?,” he said.

Good US-Russia relations are very important for the whole world said Dmitriev.

He added that US business had lost around $300 billion from leaving Russia.

“Lots of assets were sold as basically, very cheap valuations, a huge discount,” said Dmitriev in explanation of the $300 billion in losses.

He added that while a diplomatic solution is important, economic cooperation is also important.

Russia's wealth fund chief says Trump is a problem solver

Russia's wealth fund chief says Trump is a problem solver

The head of Russia's sovereign wealth fund Kirill Dmitriev speaks to media ahead of his meeting with U.S. delegation in Riyadh, Saudi Arabia, February 18, 2025. REUTERS/Hamad I Mohammed

The head of Russia's sovereign wealth fund on Tuesday described U.S. President Donald Trump as a problem solver ahead of the first high-level, in-person discussions in years between the two countries.

"We really see that President Trump and his team is a team of problem solvers, people who have already addressed a number of big challenges very swiftly, very efficiently and very successfully," Kirill Dmitriev told reporters in Riyadh.

Russia said Foreign Minister Sergei Lavrov will hold talks with top U.S. officials, including Secretary of State Marco Rubio, on Tuesday that will focus on ending the Ukraine war and restoring "the whole complex" of Russia-U.S. ties.

The talks are meant to precede a meeting between the U.S. and Russian presidents.

Yuri Ushakov, Russian President Vladimir Putin's foreign policy adviser, said on Monday that Dmitriev might join the delegation to discuss any economic questions that might arise.

Dmitriev, a U.S.-educated former Goldman Sachs banker, played a role in early contacts between Moscow and Washington during Trump's first term as president from 2016-2020.

"It's very important to understand that U.S. businesses lost around $300 billion from leaving Russia. So there is huge economic toll on many countries from you know what's happening right now, and we believe as a way forward is through solutions," Dmitriev said.

European leaders warn against Ukraine ceasefire without peace deal

Trump stunned European allies in NATO and Ukraine last week when he announced he had held a call with Russian President Vladimir Putin without consulting them.

European leaders agreed at a hastily convened meeting in Paris on Monday that they were ready to give Ukraine security guarantees.

But it would be dangerous to conclude a ceasefire without a peace agreement at the same time, a European Union official said.

"We are ready to provide security guarantees, with modalities to be examined with each party, depending on the level of American support," said the official, summarising the results of the Paris meeting.

The meeting was called by French President Emmanuel Macron after U.S. President Donald Trump arranged bilateral peace talks with Russia, excluding European allies and Ukraine from negotiations that are due to begin in Saudi Arabia on Tuesday.