In a whirlwind week of high-stakes diplomacy, the ongoing war in Ukraine has once again taken center stage, with U.S. President Donald Trump, Russian President Vladimir Putin, and Ukrainian President Volodymyr Zelenskyy at the heart of a rapidly evolving and contentious peace process. The latest developments—marked by shifting positions, tense meetings, and the prospect of a landmark summit in Budapest—have left the world watching closely, wondering whether a real breakthrough is in sight or if the impasse will only deepen.
On October 16, 2025, President Trump spoke by phone with President Putin, a conversation that set the tone for the days to follow. Just a day later, Trump hosted President Zelenskyy at the White House for what would be described by both sides as a frank and, at times, acrimonious exchange. According to Financial Times and Reuters, the talks ended without a promise of long-range Tomahawk missiles for Ukraine—a disappointment for Kyiv, which has pressed for more robust U.S. military support in its fight against Russia's invasion, which began in February 2022.
In an interview with Fox News aired October 19, Trump was strikingly candid about his views on the conflict and the likely outcome of peace negotiations. "Well, he's going to take something," Trump said of Putin. "I mean, they fought and uh, he has a lot of property. I mean, you know, he's won certain property, if you say that, he's won certain property." He went on to suggest that, in his view, territorial concessions by Ukraine were to be expected as part of any deal. Notably, Trump made no mention of Ukraine's sovereignty or international law, instead framing the situation as a matter of property won through strength of arms. "We're the only nation that goes in and wins a war and then leaves," he added, referencing past U.S. military interventions.
Following the White House meeting, Trump took to social media to reiterate his stance, writing that Ukraine and Russia should make a peace deal "with property lines being defined by war and guts." According to the Washington Post, this position aligns closely with a proposal reportedly put forth by Putin: Russia would offer to relinquish parts of the Zaporizhzhia and Kherson regions—both partially occupied by Russian forces—in exchange for full control of Donetsk Oblast. The Financial Times reported that Trump pressed Zelenskyy to accept these terms, warning in a heated exchange that "if (Putin) wants it, he will destroy you." Trump also echoed several Kremlin talking points during the meeting, calling the invasion a "special operation" and claiming Russia's economy is "doing great." At one point, frustrated with Ukraine's battlefield maps, Trump allegedly tossed them aside, saying, "This red line, I don't even know where this is. I've never been there."
Zelenskyy, for his part, has been steadfast in rejecting the idea of surrendering additional territory. In a nightly address on October 19, he declared, "We will give nothing to the aggressor." In an interview with NBC, he interpreted Trump's position as possibly freezing the war along the current line of contact, but made clear that Ukraine would not accept further losses. "After many rounds of discussion over more than two hours with [Trump] and his team, his message, in my view, is positive – that we stand where we stand on the front line," Zelenskyy said, but he also urged the U.S. to exert more pressure on Moscow.
Amid these fraught discussions, attention has turned to a proposed summit in Budapest, where Trump and Putin are expected to meet in the coming weeks—a venue chosen, according to Kremlin spokesman Dmitry Peskov, because of both leaders' warm relations with Hungarian Prime Minister Viktor Orban. Zelenskyy has indicated he is willing to attend if invited, but has expressed deep wariness about the setting, given Orban's antagonistic stance toward Kyiv and close ties to Moscow. "If I am invited to Budapest – if it is an invitation in a format where we meet as three or, as it’s called, shuttle diplomacy, President Trump meets with Putin and President Trump meets with me – then in one format or another, we will agree," Zelenskyy told reporters. However, he doubted that Orban could "do anything positive for Ukrainians or even provide a balanced contribution."
The choice of Budapest is controversial for other reasons as well. The International Criminal Court (ICC) has issued a warrant for Putin’s arrest on war crimes charges, but Hungary has pledged not to detain him during the summit. This has drawn criticism from European leaders. Estonia’s foreign policy chief Kaja Kallas remarked, “It’s not nice to see that a person under [an] ICC arrest warrant is coming to a European country,” while Lithuania’s Foreign Minister Kestutis Budrys asserted, “The only place for Putin in Europe is The Hague, in front of the tribunal, not in any of our capitals.” The EU is expected to approve a 19th round of sanctions on Russia this week in response to ongoing aggression.
As for the substance of the negotiations, the lines remain stark. Russia continues to demand complete withdrawal of Ukrainian troops from Donetsk, Luhansk, Zaporizhzhia, and Kherson regions, as well as several other tough conditions. Ukraine and its allies see these demands as tantamount to capitulation. Yet, despite the tough rhetoric, there are signs of shifting positions. Putin’s latest offer, as reported by the Washington Post, marks a departure from his earlier insistence on full control of Crimea and all four partially occupied regions. Still, any territorial concession by Ukraine remains a bitter pill for Kyiv and much of the international community.
On the American domestic front, the diplomatic drama has spilled over into Congress. On October 20, Senate Majority Leader John Thune announced that Congress was "hitting the pause button" on a bill proposing tariffs of up to 500% on countries that buy Russian oil, a move tied to Trump’s ongoing negotiations with Putin. The White House has yet to indicate whether it wants the bill brought to a vote.
Meanwhile, Trump’s approach has swung between optimism and resignation. In late September, he suggested Ukraine could "win all of Ukraine back in its original form" with help from the EU and NATO, but after his recent call with Putin, he advocated for freezing the current battle lines. On October 20, he denied telling Zelenskyy that Ukraine must cede Donbas for a ceasefire, but added, "I think 78% of the land is already taken by Russia. You leave it the way it is. They can negotiate something down the line."
For many observers, the prospect of a three-way summit in Budapest is fraught with uncertainty. As Ukrainian political analyst Mykola Davyduik told the BBC, "A few days after, we received some insights from the meeting and some threats and pressure that the Ukrainian side received there." Still, he added, "I don't think that Trump is fully and completely on Putin's side, and he is trying to play mediator... and that is his kind of style and how he behaves in such a situation." Ivan Stupak, a former member of Ukraine's security and intelligence service, suggested the acrimony might be overstated: "It's not Disneyland, it's not a kindergarten. It's a meeting of two men and two leaders."
As the world waits for the Budapest summit to materialize, one thing is clear: the path to peace in Ukraine remains as treacherous as ever, with every word and gesture from Washington, Moscow, and Kyiv carrying enormous weight for the future of Europe.
