Trump administration is in talks on a temporary peace deal, Semafor reports
Semafor reports the administration is in talks on a temporary peace deal. U.S. News said a new Russia-Ukraine round would be the fourth brokered by the administration, after the last one in Geneva in February.
U.S. News & World Report said on October 24 that a new round of Russia-Ukraine negotiations would be the fourth brokered by the administration, after the last one in Geneva in February. It said envoy Steve Witkoff shuttled between Oslo and St. Petersburg that week to meet Zelenskyy and Putin, and secured the latest commitment to talks.
Sanctions are part of the bargaining. CNN reports that Trump wrote on October 18 that he is negotiating peace between Russia and Ukraine and does not want to drive Russia from the table, and that he waived some Russia sanctions to keep Moscow engaged. A Kremlin aide told CNN that Russia and the US are discussing sanctions relief for Russia's sovereign wealth fund.
This year's negotiating tracks, including the Lukoil asset talks and Witkoff's disputed comments on Putin, have produced partial or contested results rather than a settlement. A temporary deal would be a more concrete outcome than those. It would also take out one source of geopolitical uncertainty that has weighed on risk sentiment, which would favour equities by lowering the premium investors demand for war risk. How much of that follows depends on the terms of any deal.
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