Trump says ‘we didn’t get there’ but touts progress as meeting with Putin ends without a deal to stop Ukraine war

·RussiaTrump says ‘we didn’t get there’ but touts gress as meeting with Putin ends without a deal to stop Ukraine warBy Jason MaBy Jason MaWeekend EditorJason MaWeekend EditorJason Ma is the weekend editor at Fortune, where he covers , the economy, finance, and housing.SEE FULL BIO President Donald Trump shakes hands with Russian President Vladimir Putin on the tarmac after they arrived at Joint Base Elmendorf-Richardson in Anchorage, Alaska, on Friday.Andrew Caballero-Reynolds—AFP via Getty ImagesThe U.S. and Russian presidents met in Alaska on Friday to discuss a ceasefire for the Ukraine war

Putin said the two leaders reached an agreement to “pave the path to peace in Ukraine” without giving details, while Trump said there are still outstanding issues

The highly anticipated meeting between President Donald Trump and Russian President Vladimir Putin Friday night without a agreement to end the war in Ukraine

After talking for nearly three hours, the two leaders held a news conference, where Putin began by saying they reached an agreement to “pave the path to peace in Ukraine” but didn’t offer any details

He added the roots of Moscow’s concerns in Ukraine must to be addressed before a full deal can be reached

Trump ed those remarks and suggested some outstanding issues remain unresolved, but also didn’t go into any specifics. “There were many, many points that we agreed on—most of them I would say—a couple of big ones that we haven’t quite gotten there,” he said. “We’ve made some headway

So there’s no deal until there’s a deal.” Trump added that he will confer with the leaders of NATO and Ukraine. “I’m going to start making a few phone calls and tell them what happened,” he said. “We had an extremely ductive meeting, and many points were agreed to and there are just a very few that are left

Some are not that significant

One is bably the most significant, but we have a very good chance of getting there

We didn’t get there, but we have a very good chance of getting there.” Trump closed his remarks by saying “we’ll speak to you very soon and bably see you again very soon.” After the opening statements, the news conference without either president taking any questions from reporters

Ian Bremmer, president of political risk re and consulting firm Eurasia Group, said on X that Putin has gained time and conceded nothing, calling the summit a win, for now, for Russia. “Putin treated as an equal by president trump, which the Russian president was ly pleased ,” he added

Ahead of the meeting, Trump described it as “setting the table,” and told Fox News earlier on Friday that if it goes well, then another meeting would soon

Otherwise, he suggested he won’t hold “any more meetings at all, maybe ever,” adding that he’ll be upset if there isn’t “some form of a ceasefire.” “You have to weave and bob and you don’t know what’s going to happen,” Trump said. “But we’re going to go and find out

I’d to see a ceasefire.” Ukrainian President Volodymyr Zelensky, who may be included in a future round of talks, said before the Trump-Putin meeting that the U.S. can end the war. “We count on a strong American position,” he said in a address from Kyiv. “Everything will depend on this.” Earlier in the week, Zelensky rejected a suggestion from Trump that any ceasefire agreement would require Ukraine and Russia to swap some territory

On Wednesday, Trump warned that there will be “very severe consequences” if Putin doesn’t agree to stop his war on Ukraine

But that’s after Trump backed off an earlier threat to impose secondary sanctions on countries that import Russian oil

Instead, he agreed to meet Putin in Alaska

With existing sanctions on Russia and potentially new ones at stake, the eventual outcome of the Trump-Putin summit will create winners and losers in the energy space

Peace means lower fuel prices for consumers, even as a bearish oil sector turns increasingly pessimistic the months and year ahead

On the other hand, continued fighting could mean increased sanctions against Russia and buyers of Russian oil, adding pain at the pump while potentially reinvigorating a languishing oil industry and driving higher revenues

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