Gold prices steady with focus on Ukraine-Russia, Jackson Hole
Investing.com -- Russia is hoping that U.S. President Donald Trump will broker a satisfactory peace deal in Ukraine, but is ready to continue the war if negotiations fail, according to a report from Bloomberg, citing insiders in Moscow. Despite Trump’s threat of imposing additional sanctions on Russian oil due to lack of progress towards a ceasefire, the Kremlin remains unfazed. Russian President Vladimir Putin views Trump as his best opportunity to end the war and wishes to continue diplomatic efforts.
Last weekend, President Trump expressed his frustration at the slow pace of negotiations, stating he was "pissed off" with Putin. However, he later toned down his criticism, expressing confidence that the Russian leader would fulfill his part of the deal. Kremlin spokesman Dmitry Peskov stated Russia would prefer to continue efforts to find a settlement, emphasizing the need for dialogue and understanding with the current American administration.
Kirill Dmitriev, Putin’s economic envoy who is under U.S. sanctions, revealed on Thursday that he is in Washington for meetings with administration officials. He expressed concerns that opponents of rapprochement fear Russia and the U.S. finding common ground and improving cooperation in international affairs and the economy.
The Kremlin is seeking more U.S. concessions, including some relief from sanctions and a halt to arms shipments to Ukraine. Following talks with the U.S. in Saudi Arabia last month, Russia agreed to a moratorium on attacks against Black Sea shipping, conditional upon one of its largest state banks being reconnected to the SWIFT international messaging system.
While Putin has expressed a desire for a deal with Trump, he has consistently maintained that any agreement must address what he identifies as the root causes of the war. Putin has called for Kyiv to renounce its ambition to join the NATO defense alliance and accept limits on its military size. He also insists that any settlement should acknowledge the "realities on the ground" of Russia’s occupation of eastern and southern Ukrainian territory since the February 2022 invasion.
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