Trump and Putin Make Significant Progress on Ukraine After Telephone Talks

President Donald Trump announced he will meet with Russian President Vladimir Putin in Budapest to discuss ending the Ukraine crisis, following what he described as a productive phone conversation on Thursday. The meeting comes as Trump prepares to host Ukrainian President Volodymyr Zelensky at the White House on Friday.

Trump didn't set a specific date for the Budapest meeting but said on social media that he believes "significant progress was made in today's phone call" with Putin. The announcement signals a potential shift in diplomatic efforts to resolve the ongoing conflict that has dominated international relations for nearly three years.

The timing is notable. Trump will first meet with Zelensky at the White House on Friday, then follow up with Putin in the Hungarian capital. This sequence suggests a coordinated diplomatic push, with Trump potentially serving as an intermediary between the two leaders who have been locked in conflict since Russia's invasion began in February 2022.

For markets and global stability, any genuine progress toward resolving the Ukraine crisis could have major implications. Energy prices, defense spending, and European economic stability have all been shaped by the war. But past diplomatic efforts have repeatedly stalled, so investors and governments will likely wait for concrete outcomes rather than early announcements.

Budapest's selection as the meeting location isn't random. Hungarian Prime Minister Viktor Orbán has maintained closer ties with Moscow than most EU leaders, making Hungary a practical neutral ground for such high-stakes diplomacy. The choice also keeps the meeting within NATO territory while selecting a host that's been more open to dialogue with Russia.