On May 16, representatives from Russia and Ukraine met in Istanbul for two hours, the first direct talks since the beginning of hostilities. The aim was to secure a ceasefire and an eventual peace agreement. That didn't happen. However, the encounter did result in another exchange of prisoners of war, 1,000 this time. But stopping the fighting required a conversation between two leaders: US President Donald Trump and Russian President Vladimir Putin.
Growing Frustration
Trump's May 19 phone conversation with Putin was likely prompted by a growing frustration with the Russian leader and Trump’s desire to determine just how serious Putin is about stopping the killing. To that end, the chief executive provided his perspective in a Truth Social post: "Just completed my two-hour call with President Vladimir Putin of Russia. I believe it went very well. Russia and Ukraine will immediately start negotiations toward a Ceasefire and, more importantly, an END to the War." He explained that Ukraine and Russia would hash out the conditions for ending the fighting, "because they know details of a negotiation that nobody else would be aware of." The commander-in-chief characterized "the tone and spirit of the conversation" as "excellent," adding that the timeframe would be “now, rather than later."
America's chief executive believes Russia wants to engage in "largescale TRADE with the United States when this catastrophic 'bloodbath' is over, and I agree," Trump wrote. “Negotiations between Russia and Ukraine will begin immediately." Trump debriefed President Volodymyr Zelensky of Ukraine and a host of European leaders, revealing that Pope Leo XIV would be "very interested in hosting the negotiations. Let the process begin!"
Putin More Reserved About the Call
Following the phone conversation, Putin's observations were more cryptic. In an RT (Russia Today) press availability, he said, "My colleagues asked me to say a few words about the results of our telephone conversation … I would like to note that it was very informative and very frank. And overall, in my opinion, very useful in this regard."
It appears Russia’s leader believes there is some advantage in prolonging the fighting, avoiding serious discussions about a peace agreement or at least a ceasefire while Russian forces seize more territory. The more real estate in Ukraine that Moscow controls, the better its position to negotiate. But according to the “Russian Offensive Campaign Assessment, May 18, 2025,” a report by the Institute for the Study of War:
"Putin is attempting to distract from Russia's military and economic challenges with this rhetoric. Finnish President Alexander Stubb stated during an interview with UK outlet The Guardian published on May 18 that the Kremlin is falsely posturing its economy and military as strong. Stubb noted that Russia has depleted its financial reserves and that the Russian interest rate is over 20 percent. ISW continues to assess that Russian forces are sustaining significant battlefield losses at rates that are likely unsustainable in the medium- to long-term and that Putin has mismanaged Russia's economy."
With the Russian operations in Ukraine not delivering what the Kremlin wished for and economic conditions faltering, Putin would benefit from accepting an olive branch. Though there is only modest cause for celebration, the phone call between the two superpower leaders is a positive development after months of disappointments and frustrations.
The views expressed are those of the author and not of any other affiliate.
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