Putin Has Proposed a Summit With Trump and Xi Next Month to Negotiate an End to the Ukraine War
A three-way summit, floated on a phone call
Russian President Vladimir Putin has proposed that he, President Trump and Chinese leader Xi Jinping meet next month to attempt to negotiate an end to the war in Ukraine that would favor Moscow, per WSJ. The Wall Street Journal reported the proposal on Sunday, citing people familiar with the discussions, and Reuters reported that the suggestion came in an October 9 telephone call between Putin and Trump that also produced a deal for the US to buy Russian diesel.
Russian President Vladimir Putin has proposed that he, President Trump and Chinese leader Xi Jinping meet next month to negotiate an end to the war in Ukraine, per the Wall Street Journal.
APEC is the proposed venue, and nobody has agreed yet
The Kremlin has suggested holding the trilateral meeting on the sidelines of the Asia-Pacific Economic Cooperation summit, set for November 18 to 19 in Shenzhen, according to the Journal's reporting. Kremlin spokesman Dmitry Peskov confirmed to the Journal that discussions were taking place: "There is no clear understanding yet regarding the meeting itself or its potential agenda, although all three parties acknowledge the hypothetical possibility of such a meeting taking place."
The proposal lands amid warming ties between Trump and Putin, after the US president announced the Russian diesel deal and signed an order on Friday waiving key sanctions on Moscow. A senior US official told the Journal that Trump had not agreed to such a summit but could be receptive to the idea. The White House did not immediately respond to requests for comment, and the Russian and Chinese embassies in Washington did not immediately reply, per Reuters.
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Options market and stocks to watch
A credible path to ending the Ukraine war reprices two trades at once: energy, through XLE and crude on any sanctions relief for Russian supply, and defense, through names like LMT, where a peace process is a headwind to the rearmament trade. A summit that includes Xi also makes it a US-China story, not just a Russia one.
Watch for any White House confirmation ahead of the November 18 to 19 APEC summit, and follow the diplomacy on the Unusual Whales news feed.
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