Putin Proposed Trump-Xi Talks on Ending Ukraine War, With APEC Floated as Venue
Summary
- Russian President Vladimir Putin has proposed a U.S.-China-Russia leaders' meeting to discuss an end to the war in Ukraine.
- The proposal came as U.S.-Russia ties have improved somewhat, including an agreement on Russian diesel imports and a delay in enforcing a Russia sanctions law.
- Market participants say Russia may be seeking to discuss war-ending terms directly with the U.S. and China to strengthen its diplomatic standing.
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Russian President Vladimir Putin proposed a summit with U.S. President Donald Trump and Chinese President Xi Jinping to discuss ending the war in Ukraine, the Wall Street Journal reported on October 19.
According to the Journal, Putin raised the idea during an October 9 phone call with Trump, suggesting the three leaders meet next month to discuss terms for ending the war.
Shenzhen, China, where the Asia-Pacific Economic Cooperation summit is set for November 18-19, has been mentioned as a possible venue.
Russia also conveyed the proposal to China through diplomatic channels, the report said. China is said to have indicated it would not oppose hosting the meeting if Trump agrees to attend. Trump has not said whether he will take part.
The proposal comes as U.S.-Russia relations have improved somewhat recently. Trump has agreed to imports of Russian diesel, and implementation of a Russia sanctions law passed by the U.S. Congress has also been delayed.
In the market, the proposal is being interpreted as an attempt by Russia to discuss terms for ending the war directly with the U.S. and China while excluding Ukraine and Europe from the negotiating table. The move is also seen as an effort to bolster Moscow's diplomatic standing by framing the issue as a negotiation among major powers with Washington and Beijing.
A former Russian intelligence official said Putin views the proposal as similar in nature to the Yalta Conference, where the leaders of the U.S., the U.K. and the Soviet Union discussed the postwar order in 1945.
China could use such a summit to expand its influence as a mediator in international conflicts. But taking part in talks that exclude Ukraine could also provoke a backlash from European countries.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.