Russia's nuclear testing intentions have drawn renewed trader attention following President Vladimir Putin's recent directive to defense and foreign ministry officials to analyze and prepare proposals for possible nuclear weapons tests at sites like Novaya Zemlya. This step responds directly to U.S. signals under President Trump about resuming underground testing, amid the lapse of New START verification and Russia's 2023 withdrawal from Comprehensive Nuclear-Test-Ban Treaty ratification. Ongoing strategic force exercises, Sarmat ICBM modernization efforts, and large-scale civil defense drills underscore Russia's emphasis on nuclear readiness and signaling, though no explosive test has occurred since the Soviet era. Analysts note preparation timelines of several months to years, with market resolution hinging on verifiable confirmation of any yield-producing detonation.