Cue the world’s most awkward reunion tour: Trump and Putin are set to meet in the coming days. After months of sniping at each other via tariffs and threat letters, the U.S. president and the Russian strongman are finally agreeing on a face-to-face—just in time for the third anniversary of Europe’s bloodiest war since World War II.

The summit announcement followed a curious three-hour tête-à-tête between Putin and Trump’s personal envoy, real estate mogul Steve Witkoff, in Moscow. While details remain sketchy, Kremlin aide Yuri Ushakov confirmed that Russia and the U.S. “agreed to hold a Putin-Trump summit in the coming days.” The United Arab Emirates has been floated as a possible host, though no official invite has been tabled.

Trump has been wielding sanctions like a puppy with a new chew toy—threatening fresh duties on Russia and any country that dares buy its oil after Friday’s deadline. India already got socked with higher tariffs, and Beijing might be next if it doesn’t cut back on its Russian crude binge. Whether these threats will bring Putin to the negotiating table or just inflate gas prices remains to be seen.

Meanwhile, markets got an adrenaline shot from the news. Russia’s MOEX index jumped 5%, its best stretch in two months, and the ruble climbed against the dollar and yuan. As Alfa Bank analysts noted, investors are banking on any thawing of tensions as a shortcut to “normalizing the geopolitical situation.” Translation: Money talks louder than diplomacy.

But not everyone’s buying the hype. Ukraine’s President Volodymyr Zelenskiy has made it crystal clear that Europe must not be cut out of any deal. In calls with France’s Macron, Germany’s Scholz, and EU chief von der Leyen, he insisted on a “dignified peace” brokered with European involvement—lest Kyiv end up with the short end of the stick. After all, they’re negotiating the future security architecture of Europe, not just oil pipelines.

Strategists in Kyiv are skeptical. Mykola Bielieskov of the National Institute for Strategic Studies warns that offering Putin a summit is like giving a kid a reward before he’s done his chores. The Kremlin will milk every minute of these meetings for propaganda value, all while dragging out the war with zero new concessions.

Word on the ground in Ukraine reflects the gloom: “I don’t expect any positives,” says actor Mykhailo Kryshtal. And who can blame him? Putin has mastered the diplomatic long-game, and Trump, ever the deal-hunter, seems all too ready to play right into it. Reports even suggest Trump is eyeing a follow-up “trilateral” with Zelenskiy—but only after he courts Putin alone.

Let’s get real: This summit could either kickstart real peace talks or end up as another checklist in the “Presidential Photo-Op” portfolio. With EU accession talks humming in Brussels and Ukraine’s fate hanging in the balance, excluding Europe would be a masterstroke of geopolitical amateur hour.

Source: Reuters

I’m marking my calendar for the post-summit stock market reaction—because nothing says “peace dividend” like a pumped ruble and an overpriced selfie.

Summit or Soap Opera? Trump and Putin Head…