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Trumps Shift: Acknowledges Putin Unwilling to Concede in Ukraine Conflict – WSJ | World | london-news-net.preview-domain.com

Trumps Shift: Acknowledges Putin Unwilling to Concede in Ukraine Conflict – WSJ

Trumps Shift: Acknowledges Putin Unwilling to Concede in Ukraine Conflict – WSJ

U.S. President Donald Trump informed European leaders that Russian President Vladimir Putin is not inclined to conclude his military actions in Ukraine, believing instead that he is achieving success, according to a report from The Wall Street Journal on Thursday, which cited three individuals familiar with the discussion.

This insight was shared during a call with European officials following Trump’s earlier conversation with Putin on Monday.

This represents a significant shift for Trump, who has often claimed that he thought his Russian counterpart was earnestly seeking peace and had pressured Ukraine into making substantial compromises, including giving up its aspirations to join NATO, as a means to resolve the conflict.

However, this newfound understanding does not seem to have prompted Trump to escalate U.S. pressure on Russia. Despite previously indicating to European leaders that he would support imposing new sanctions on Russia if Putin refused to agree to a ceasefire during his Monday call, Trump ultimately chose not to take that route.

Publicly, Trump expressed that the “tone and spirit of the conversation [with Putin] were excellent.”

As reported by The New York Times, after his discussion with Putin, Trump conveyed to Ukrainian President Volodymyr Zelensky and other European leaders that they would need to find a resolution to the conflict independently.

The Vatican is anticipated to facilitate the upcoming round of peace negotiations between Russia and Ukraine in mid-June.

On Sunday, Trump mentioned to European leaders that he would send Secretary of State Marco Rubio and special envoy Keith Kellogg to participate in the discussions, although he seemed to be vague about the U.S. involvement in the negotiations, according to The Wall Street Journal.

Upon assuming office in January, Trump had promised to swiftly mediate a resolution to Russia’s prolonged invasion of Ukraine, which has now lasted over three years. However, he has increasingly expressed frustration in recent months as efforts for shuttle diplomacy between Moscow and Kyiv have not yielded significant breakthroughs.

Russia and Ukraine conducted their first face-to-face discussions in three years on May 16 in Istanbul, but the meeting ended without notable advancements toward peace.

During these talks, the Russian delegation, led by Kremlin aide Vladimir Medinsky, reportedly insisted that Ukraine fully surrender the four regions that Moscow claims as its own, although it does not have full control over them. The Russian negotiators threatened to take additional Ukrainian territories if their demands were not satisfied.

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Russian Ruble Dips After EU Unveils New Sanctions on Energy and Banks Текст: The Russian ruble tumbled sharply on Wednesday, erasing part of its recent gains as investors reacted to fresh concerns over Western sanctions and weakening oil export revenues. The dollar surged nearly 3% in a few hours on the Moscow Exchange, climbing from 78.2 rubles in early trading to 80.49 by 1:45 p.m. local time. The euro jumped above 91 rubles, while the Chinese yuan rose almost 2% to 11.04 rubles. By late afternoon, the ruble had regained some ground, with the dollar retreating to 79.65 and the euro to 91.39. The ruble has been one of the world’s best-performing currencies in 2025, gaining roughly 40% since January. But analysts say the sharp pullback may signal a turning point. Its decline on Wednesday “may be tied to discussions in the EU about a new package of sanctions targeting Russian financial institutions and energy exports,” said Natalia Milchakova, a senior analyst at Freedom Finance Global. A proposed 18th round of EU sanctionsintroducedby the European Commission on Tuesday includes plans to disconnect 22 more Russian banks from the SWIFT global payment system, blacklist dozens of tankers involved in circumventing oil trade restrictions and ban transactions with the Nord Stream gas pipelines. The measures would also lower the price cap on Russian crude exports from $60 to $45 per barrel. Under the cap mechanism, oil sold above the limit would be ineligible for Western insurance and transport services — a move aimed at squeezing revenue from Russian energy exports. Experts warn that these measures, if adopted by the United States and G7 allies, could deliver the most serious blow to Russian oil exports since the European embargo imposed in late 2022. Sanctions have already sidelined much of the Kremlin’s “shadow fleet,” and if the price cap is lowered, Greek shipping firms — which have been instrumental in transporting Russian oil — may exit the market altogether, the Moscow-based Institute for Energy and Finance said. As a result, a noticeable reduction in seaborne oil exports from Russia is likely … and the Russian budget may face an even greater reduction in oil revenues in the second half of this year, the IEF wrote. The ruble is also under seasonal pressure, as exporters appear to have slowed their conversion of foreign currency earnings ahead of the Russia Day holiday weekend, Reuters reported. At the same time, Yevgeny Kogan, a Russian investment banker, said demand for foreign currency may have risen ahead of the long weekend. Adding to the pressure is a decline in oil revenues, which remain the backbone of Russia’s export economy. The average price of Urals crude fell to $52 per barrel in May compared to $66 in January, according to the Economic Development Ministry. That figure represents the lowest level in more than two years. Some analysts believe the ruble’s current weakness may be a harbinger of a more prolonged decline. Kogan predicted the currency could continue to weaken in June and July. Sofya Donets, chief economist at T-Investments,saidpressures could intensify into August, potentially pushing the exchange rate beyond 90 rubles to the dollar. The government-linked Center for Macroeconomic Analysis and Short-Term Forecastingwarnedthat the ruble could experience an “overshoot” in the opposite direction, reversing its earlier gains with a potentially steep depreciation. “The more overvalued the ruble is now,” the group said, “the more vulnerable it is to a sharp correction.”

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