Russian President Vladimir Putin is sounding a cautiously optimistic note about ending the war in Ukraine. Speaking at an economic forum in Russia on Thursday, he said several countries, including the U.S. and China, are ready to support a peace settlement. But he was quick to add that the real work has to happen between the two nations actually fighting: Russia and Ukraine.
“We are grateful to everyone attempting to contribute to a settlement. Is there a chance? In my view, yes, there is,” Putin said, according to Reuters.
Putin acknowledged that Russia and Ukraine are still in contact, mostly through intelligence channels, though he questioned how effective those talks have been. He also pointed to recent statements from Ukraine that could complicate the path to a deal.
On the Ukrainian side, Foreign Minister Andrii Sybiha hinted at a “new dynamic” in peace initiatives, without offering specifics. He told journalists to “follow the news.”
Trump's Condition for a Putin Meeting
Progress toward peace has been slow since the last U.S.-mediated talks in February. With Washington's attention pulled toward the war in Iran, both Russia and Ukraine have stepped up long-range strikes and attacks on ports and commercial shipping.
Ukrainian President Volodymyr Zelenskyy has warned airlines and insurers that Ukrainian drone activity has made Russian airspace increasingly dangerous, while stressing that civilian aircraft are not targets. Ukraine has also asked the International Civil Aviation Organization to push member states to ban civilian flights over Russia, given the escalating drone operations.
Putin, for his part, said recent Ukrainian actions, including alleged attacks on civilian merchant vessels and threats to civilian aircraft, have made negotiations tougher.
Meanwhile, President Donald Trump said on Wednesday that he would meet Putin only when Moscow is ready to reach a peace deal. He urged both sides to stop fighting, but added that he could meet Putin “immediately” if the conditions for ending the war were in place.
Ukraine's Strikes Ripple Through Global Energy
The conflict's impact is being felt far beyond the battlefield, especially in energy markets. Treasury Secretary Scott Bessent partly blamed Ukraine's attacks on Russian energy infrastructure for the global “energy shock,” which is adding to price pressures already driven by the U.S.-Iran war.
Russia's oil output forecast for 2026 has been cut to a 17-year low, contributing to gasoline shortages and forcing Moscow to limit fuel exports.
At the time of writing, Brent crude futures for October were up 0.42% at $96.11 per barrel, while WTI crude futures for October were trading 0.86% higher at $91.78 per barrel.
Image via Shutterstock
