President Donald Trump has said there’s a “very good prospect” of holding a summit with Russian President Vladimir Putin and Ukrainian President Volodymyr Zelensky, following what he called “constructive” talks between his envoy and the Kremlin.
Donald Trump on Wednesday raised hopes for a possible peace summit with Vladimir Putin and Volodymyr Zelensky after a high-level meeting in Moscow involving his envoy Steve Witkoff. The president, who previously claimed he could end the war in a single day, said both sides had exchanged “constructive signals.”
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Speaking from the Oval Office, Trump noted that Russia had expressed interest in further talks and a possible meeting. “Everyone agrees this war must come to a close,” he wrote on his Truth Social platform, adding that he had briefed key European allies after the Moscow visit.
The Kremlin confirmed the talks but kept its statement vague, only saying "signals were exchanged" during the meeting. No date for a summit has yet been announced.
India hit with steep tariffs over russian oil trade
In a dramatic move aimed at increasing pressure on Moscow, Trump signed an executive order imposing an additional 25% tariff on Indian imports starting August 27. The decision came after India continued to import Russian oil despite U.S. warnings.
The new tariffs will raise duties on some Indian goods to as much as 50%, making them among the highest faced by any U.S. trading partner. India called the move “extremely unfortunate,” while the Kremlin described such penalties as “illegal.”
The move signals Trump’s growing frustration with countries not aligning with his push to isolate Russia economically.
Threat of more tariffs on china as ceasefire deadline nears
Trump also warned China that it could face similar penalties if it continues purchasing sanctioned Russian oil. U.S. Treasury Secretary Scott Bessent recently conveyed this message to Chinese officials, citing legislation passed in Congress.
Tensions between Washington and Beijing have already been high, with a 90-day tariff truce due to expire on August 12. Without an extension, tariffs on Chinese goods could spike to triple-digit levels, threatening an already fragile economic relationship.
Kremlin airstrikes continue despite US warnings
Despite rising international pressure, Moscow has intensified its air campaign in Ukraine, launching some of the deadliest strikes in recent months. Since peace talks resumed in May, at least 72 civilians have been killed in Kyiv alone.
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The Kremlin is reportedly considering a limited moratorium on airstrikes, an idea floated by Belarusian President Alexander Lukashenko. However, analysts say this would fall far short of the full ceasefire demanded by Ukraine and its allies.
Ukraine continues to strike back, targeting Russian refineries and oil depots using drones and advanced weaponry supplied by the West.
Zelensky warns war will only end if russia runs out of cash
Ukrainian President Volodymyr Zelensky, who joined Trump and European leaders on a recent call, has reiterated that Russia will only negotiate seriously if its financial resources are drained. He welcomed the latest $200 million U.S. military aid package, which includes weapons and support for drone production.
Ukraine's drone strikes have significantly damaged Russian energy infrastructure, while Russian air raids continue to terrorize Ukrainian cities. A recent attack on a holiday camp in Zaporizhzhia killed two and injured 12, with Zelensky calling it “pure cruelty.”
Putin not expected to yield to trump’s sanctions threat
Sources close to the Kremlin told Reuters that Putin is unlikely to bow to Trump’s threats, believing that his military goals in Ukraine outweigh the impact of additional sanctions. Despite three rounds of failed peace talks in Istanbul, Russia has continued to escalate its attacks.
The Kremlin has consistently rejected Zelensky’s calls for a one-on-one meeting with Putin. Meanwhile, Western nations remain united in demanding a full withdrawal of Russian forces and the restoration of Ukraine’s territorial sovereignty.
What's next: muted hopes for peace, mounting pressure
With Trump's ceasefire deadline looming and no immediate breakthrough in sight, expectations remain low for a resolution by Friday. Still, the possibility of a summit between Trump, Putin, and Zelensky is being watched closely as a potential diplomatic turning point.
If no ceasefire is achieved, Trump has vowed to expand sanctions and escalate trade pressure — signaling a tougher U.S. stance moving forward.
