Less than a week following the sudden announcement of a potential summit between U.S. President Donald Trump and Russian President Vladimir Putin in Budapest, Hungary, the plan was swiftly scrapped. This decision came shortly after the White House imposed sanctions on two Russian oil companies. Trump’s stance on the conflict in Ukraine has been inconsistent, shifting between positions.
Despite previous praise for facilitating a ceasefire in Gaza, Trump’s attempt to extend his peacemaking efforts to the Ukraine conflict faltered due to Russia’s reluctance to compromise on its Ukrainian ambitions. The focus has now shifted towards increasing pressure on Russia, both on the battlefield and through other means.
Trump, after meeting with NATO Secretary General Mark Rutte, expressed doubts about meeting Putin and hoped that the sanctions on Russian oil companies would not endure. Treasury Secretary Scott Bessent emphasized that the sanctions were a response to Russia’s continued involvement in the conflict. The U.S. urged its allies to support and adhere to these measures.
The proposed Budapest summit was derailed as Russia rejected calls for a ceasefire, insisting on gaining control of Ukraine’s Donbas region. European leaders, along with British Prime Minister Keir Starmer, criticized Russia’s delaying tactics and called for intensified economic and defense pressure.
In response to escalating attacks, Ukraine intensified strikes on Russian energy infrastructure, causing gas shortages and price hikes in several regions. The ongoing conflict has prompted Ukraine to seek up to 150 Gripen fighter jets from Sweden. Ukrainian President Zelenskyy is set to attend a meeting in London to bolster support against Russia.
The surge in attacks on Russian energy sites has heightened tensions, with Russia deploying reservists to safeguard critical infrastructure. The strikes have impacted Russia’s gasoline market, leading to soaring prices, though larger repercussions are yet to materialize.
The escalating conflict underscores the need for coordinated international efforts to contain Russia’s military and economic capabilities, as Ukraine continues to push back against Russian aggression.