Media: Trump says peace talks with Putin, Zelenskyy could happen soon

US President Donald Trump says there is a “very good chance” he will soon meet Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskyy, as Washington intensifies efforts to broker a ceasefire, Bloomberg reported.

“That road was long, and continues to be long, but there’s a good chance that there will be a meeting very soon,” Trump told reporters on August 6 in the Oval Office.

According to people familiar with the matter, Trump informed allies during a phone call earlier in the day — which also included Zelenskyy — that he was considering hosting a summit between the three leaders.

He expressed cautious optimism about a possible ceasefire, with sources suggesting that Putin may be open to negotiations involving territorial swaps.

The push for direct talks came shortly after US special envoy Steve Witkoff held three hours of discussions with Putin in the Kremlin — a meeting that some officials believe may have helped lay the groundwork for a broader diplomatic breakthrough.

Trump, however, stopped short of calling the development a “breakthrough”, stating: “It’s a terrible situation, we want to get it stopped.” He suggested the mounting casualties on both sides had become a critical concern for the Russian and Ukrainian presidents.

Secretary of State Marco Rubio said any summit would depend on achieving sufficient progress towards a short-term ceasefire that could eventually lead to a lasting settlement. He acknowledged that securing territorial concessions from both parties would likely be essential and cautioned that numerous obstacles remained.

“I think what we have is a better understanding of the conditions under which Russia would be prepared to end the war, we now have to compare that to what the Ukrainians and our European allies, but the Ukrainians primarily, of course, are willing to accept,” Rubio said during an interview with Fox Business.

The Kremlin continues to assert claims over the Ukrainian territories of Crimea, Donetsk, Luhansk, Zaporizhzhia, and Kherson — despite lacking full military control over all these areas. Previous proposals floated by the US have included recognising Crimea, annexed by Russia in 2014, as part of Russia, while ceding limited control over certain Russian-occupied areas in Zaporizhzhia and Kherson back to Ukraine.

No final decision has been made on the summit venue, though the Middle East is among the leading options. During Trump’s recent trip to the Gulf in May, Turkish President Recep Tayyip Erdoğan offered to host the summit. Trump and Putin previously held a face-to-face summit in Helsinki in 2018.

The New York Times first reported Trump’s intentions, citing accounts from diplomats familiar with Wednesday’s call. While the White House has hinted at progress, officials reiterated that Washington would continue applying economic pressure on Moscow.

Earlier in the day, Trump announced a doubling of tariffs on Indian imports to 50%, set to take effect in three weeks. “I don’t know if that had anything to do with it, but we’ve had very productive talks today,” he said, referring to the progress on Ukraine.

US officials are also preparing further actions to curtail Russian energy revenues, including potential sanctions targeting Moscow’s covert fleet of oil tankers, which have become central to the Kremlin’s efforts to bypass existing Western sanctions.

“The shadow tanker fleet is the backbone of Russia’s sanctions evasion and war financing,” said Andriy Yermak, chief of staff to President Zelenskyy, in a post on X.

The Financial Times was the first to report the White House’s consideration of sanctions targeting these vessels and associated entities. Measures under review include further restrictions on Russian oil firms and stronger enforcement of current sanctions.

Nevertheless, foreign policy experts warn that even a high-level summit would not guarantee a peace deal.

“The prospect of a leader-level summit on such short notice could create unrealistic expectations at this stage,” said Samuel Charap, a senior political analyst at the RAND Corporation. “At best, it could start a process, not finalise an agreement.”

The Kremlin has remained largely silent on Witkoff’s visit, with Putin’s foreign policy adviser, Yuri Ushakov, telling reporters that “signals” were exchanged between Trump and Putin regarding Ukraine, without providing further details.

Meanwhile, oil prices fell for the fifth consecutive session as markets reacted to speculation over Trump’s next moves against Russia. West Texas Intermediate crude dropped 1.2%, settling just above $64 a barrel — its longest losing streak since September. Prices edged further downward on reports that Trump could meet Putin in person as early as next week.

By Aghakazim Guliyev