Trump-Putin Summit Derailed: Ukraine Demands Scuttle Hopes

A planned summit between then-President Donald Trump and Russian President Vladimir Putin in Budapest has been canceled, according to sources familiar with the matter. The cancellation follows a Russian memo insisting on what Washington views as non-negotiable demands regarding the Ukraine crisis, coupled with a tense phone call between the countries' top diplomats.

Earlier this month, Trump and Putin agreed in a phone call to meet in the Hungarian capital to discuss ways to end the Russia-Ukraine conflict. However, days later, the Russian Foreign Ministry sent a memo to its U.S. counterpart reiterating Putin's so-called "root causes" for the conflict, including territorial concessions from Ukraine, a drastic reduction in Ukraine's armed forces, and guarantees that it would never join NATO.

According to one of the sources, the summit was called off after a phone call between Russian Foreign Minister Sergei Lavrov and then-U.S. Secretary of State Marco Rubio. Rubio reportedly told Trump that Moscow showed no intention of engaging in constructive negotiations. Another source described Trump's reaction as "unimpressed" with Moscow's position.

The decision to cancel the Budapest summit marks a dramatic shift in U.S. policy in less than a week. Previously, Trump appeared to be tilting toward Putin, even backing away from the idea of arming Ukraine with long-range "Tomahawk" missiles.

Diverging Positions and Escalating Tensions

At the time, U.S. officials were increasingly skeptical that further talks with Russia would yield any positive results unless Moscow changed its stance. Lavrov's hardline stance was particularly concerning. In a short and stilted meeting with Rubio in New York in September, he made similar uncompromising remarks, describing Ukraine as being under "Nazi" control.

"Lavrov was clearly tired and seemed to have more important things to do than meet or engage with the U.S., regardless of what Putin might want," one source said.

They added that Trump remained willing to meet with the Russians "at a time and place where he believes progress is possible." Though Trump described his October 16 call with Putin as "very productive," two people familiar with the call said Putin irked his U.S. counterpart by boasting about Moscow's purported victories near the eastern Ukrainian cities of Kupiansk and Oskil.

The next day, Trump held a tense meeting with Ukrainian President Volodymyr Zelenskyy at the White House, during which he made concessions to Russia, pressured Zelenskyy, and threw around a map of Ukraine, saying he was "fed up" with the maps.

Battlefield Situation and Escalating Fighting

Recently, Russian forces have entered Kupiansk, and Zelenskyy announced on Wednesday that the situation there "remains difficult," but he claimed that Ukrainian forces have managed to "gain more control" and vowed to continue defending their positions.

Putin had demanded that this region be included as a condition for restarting peace talks, both during his August summit with Trump in Alaska, as well as in his recent call with Trump. For Zelenskyy, giving up these territories is unacceptable.

Following his call with the Russian leader, Trump said he was no longer considering providing Ukraine with "Tomahawk" missiles, calling them "very dangerous weapons" and "potentially escalatory."

Zelenskyy told reporters in Kyiv that Putin called Trump "because of President Trump's remarks about Tomahawk missiles." But after the Budapest summit was canceled, Trump doubled down on pressure on Moscow, imposing sanctions on Russia's two largest oil producers and criticizing Putin for conducting nuclear weapons tests rather than seeking peace negotiations. A spokesperson for the U.S. State Department did not respond to a request for comment. The Kremlin and Russian Foreign Ministry also did not respond to requests for comment.

Russia has attempted to blame Ukraine and its European allies for derailing what Putin described as progress made in Alaska. At the Alaska summit, Trump appeared to abandon a demand for an immediate cease-fire. The summit ended early because of Putin's rejection of Trump's peace plan, his demand that Ukraine cede more territory to Russia, and a lengthy series of historical asides.

Peter Schroeder, who served as Deputy National Intelligence Officer for Russia at the U.S. National Intelligence Council, said that the Russian leader was "frustrated" with Trump. "He couldn't get Trump to understand the situation from his perspective, and he couldn't get him to make any policy changes.""

In an interview last Sunday, Lavrov said that Putin told Trump in Alaska that Russia would agree to the U.S. peace proposal, but "didn't get a direct answer." Though Trump did support Putin's call for a comprehensive peace agreement, the U.S. has since reverted to demanding an immediate cease-fire.

Lavrov said: "When they only talk about an immediate cease-fire, and then let history judge, that's a fundamental change. It also means the Europeans are doing everything they can to put pressure on this administration."


Risk Warning: this article represents only the author’s views and is for reference only. It does not constitute investment advice or financial guidance, nor does it represent the stance of the Markets.com platform.When considering shares, indices, forex (foreign exchange) and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and could result in capital loss.Past performance is not indicative of any future results. This information is provided for informative purposes only and should not be construed to be investment advice. Trading cryptocurrency CFDs and spread bets is restricted for all UK retail clients. 

Latest news

Wednesday, 1 April 2026

Indices

Gold Price Today, April 2: XAU/USD Drops Over 1.5% to $4,686 After Hitting Recent Highs

Wednesday, 1 April 2026

Indices

Stock Market Today: Dow, S&P 500 & Nasdaq Futures Rise as Trump Issues Strong Iran Warning

Tuesday, 31 March 2026

Indices

Forex Market Today: Japanese Yen Recovers, USD/JPY Drops to 158.70 as Middle East Tensions Ease

Tuesday, 31 March 2026

Indices

Gold Price Today, April 1: XAU/USD Surges to $4,718 as Momentum Builds

Monday, 30 March 2026

Indices

Gold price today, March 31: Gold price (XAU/USD) climbs to $4,558 amid market rally

Monday, 30 March 2026

Indices

XRP news today: XRP price hovers at $1.32, Ripple reports record Q1 growth

Sunday, 29 March 2026

Indices

BTC News Today: Bitcoin Recovers to $67,400 After Sharp Dip Below $65,000

Sunday, 29 March 2026

Indices

Gold price today, March 30: Gold market is currently in a corrective phase, XAU/USD rises to $4,568.50

Tuesday, 24 March 2026

Indices

NVIDIA GTC 2026 Keynote Highlights: Jensen Huang Predicts $1 Trillion AI Demand Through 2027

Tuesday, 24 March 2026

Indices

Top performing cryptos today: Siren (SIREN), Bittensor (TAO), Stellar (XLM)