Recent diplomatic efforts, including August 2025 Alaska talks between Trump and Putin plus September 2026 envoy visits by Witkoff and Kushner to Moscow and Kyiv, have produced no trilateral leader summit despite repeated proposals. Russian officials, including Peskov, have stated there is “absolutely no point” in such a meeting without a pre-signed deal addressing core demands on territory, Ukrainian neutrality, and military limits. Fundamental gaps persist between Moscow’s positions and Kyiv’s requirements for security guarantees, with talks remaining in preparatory stages and no dates or venue confirmed. Traders view these barriers, combined with stalled progress over the past year, as making a full trilateral meeting before the end of 2026 highly improbable under current conditions.