Putin, Zelenskyy, and the peace Trump can’t broker

US President Donald Trump has indefinitely postponed a planned summit with Russian President Vladimir Putin in Budapest, telling reporters on Tuesday that he did not want to have a “wasted meeting” amid intractable differences over the war in Ukraine.

The cancellation, which also involved shelving a preparatory meeting between top diplomats, is the latest setback in the President’s personal push to broker a peace deal, a mission he prioritised after a recent ceasefire agreement in Gaza.

The root cause of the struggle, according to analysis of recent diplomatic activity, lies in at least five core issues hindering a breakthrough:

Lack of leverage and commitment

Unlike the Gaza negotiations, where the President Trump held significant sway over Israeli and Arab leaders, he appears to have less consistent leverage over Moscow or Kyiv. His strategies, which swing between threatening Russia with sanctions and pressuring Ukraine by withholding arms, have failed to produce tangible results.

Putin’s maximalist stance

The Kremlin has shown little sign of genuinely softening its demands for a settlement, rejecting Trump’s recent public call for a ceasefire along current battle lines. Russian officials reportedly continued to push for the surrender of Ukraine’s eastern Donbas region, suggesting Moscow is not serious about a simple land-for-peace trade-off.

Risk of escalation

Trump faces a constant dilemma: increasing military support to Ukraine, such as providing long-range Tomahawk missiles, risks escalating the conflict and potentially disrupting the global economy. This reluctance limits the pressure he can apply to Moscow.

Suspicions of manipulation

Analysts suggest Russian President Putin may be exploiting Trump’s personal desire for a “deal” and his focus on face-to-face diplomacy. Reports indicate that summit talk or high-level calls often emerge just as the US is contemplating a significant, tougher policy shift toward Kyiv (like sending more advanced weapons), effectively delaying or softening the US action.

Neither side willing to yield

Ultimately, the conflict remains stalemated because, neither Russia nor Ukraine is “at the point where they can make a deal,” as neither side “wants, or can afford to, give up the fight.”

The postponement follows a reportedly tense White House meeting with Ukrainian President Volodymyr Zelenskyy last week, where Trump reportedly pressured the Ukrainian leader to consider territorial concessions—a move Kyiv firmly rejected.

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Ukrainian officials, like President Zelenskyy himself, have suggested that Russia’s interest in diplomacy fades automatically whenever the threat of long-range Western weapons shipments to Ukraine eases, concluding that only pressure will lead to peace.