During a recent phone conversation between Donald Trump and Vladimir Putin, the leaders discussed the possibility of an in-person meeting in Budapest in the coming two weeks, a fact confirmed by the Russian side. Preliminary details of the meeting are being negotiated by high-level advisors including Marco Rubio for the US and Sergey Lavrov for Russia. US Vice President JD Vance and Trump’s special envoy Steve Witkov are also involved in the process.
The choice of Budapest is symbolic, referencing the Budapest Memorandum that once guaranteed Ukraine’s territorial integrity. Hungarian Prime Minister Viktor Orban has stated this meeting is significant for peace-minded people around the world.
Trump’s main goal is to strike a deal with Putin to end the war in Ukraine swiftly, positioning himself for a diplomatic success. Observers note Trump is not aiming to strengthen Ukraine's position, but rather to reach a direct agreement with Russia.
Meanwhile, Russia appears to be preparing for a large-scale mobilization, with defense budget adjustments, more conscription, and new legislation allowing the rapid call-up of reservists. Shrinking budget revenues and growing deficits push Russian authorities to seek internal funding sources.
At the same time, military-technical aid from the EU to Ukraine is decreasing, and Ukraine’s budget situation is increasingly strained. Experts point out that the prospects for a breakthrough in US-Russia negotiations remain uncertain; much depends on Putin’s willingness for meaningful dialogue and on the continued support of Ukraine from Western allies.
