‘Xi can have a big influence on Putin’: Trump turns to Chinese leader for Russia-Ukraine peace

After cancelling his meeting with Russian President Vladimir Putin, US President Donald Trump is hoping his Chinese counterpart, Xi Jinping, will convince the Russian leader to stop the Ukraine war.

“I think he can have a big influence on Putin… Look, he’s a respected man. He’s a very strong leader, very big country. Yeah, I think it can have a big influence. And we will certainly be talking about Russia, Ukraine,” Trump said. His comments came ahead of a meeting with Xi in South Korea next month.

While Trump has taken it upon himself to end the three-year-long war, the president is finding himself frustrated with Putin. “Every time I speak with Vladimir, I have good conversations, and then they don’t go anywhere,” Trump said on Wednesday.

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But while Trump has upended a years-long Western policy of isolating the Russian leader, he has made little concrete progress toward a peace deal so far.

Trump imposes sanctions on Russia

Washington has slapped heavy sanctions on Rosneft and Lukoil, Moscow’s two largest oil companies. The sanctions were the first imposed against Russia since Trump returned to the White House and aim to cut key revenues from oil sales for Russia.

“Now is the time to stop the killing and for an immediate ceasefire,” said the treasury secretary, Scott Bessent, in a statement announcing the sanctions against Russia.

“Given President Putin’s refusal to end this senseless war, Treasury is sanctioning Russia’s two largest oil companies that fund the Kremlin’s war machine. Treasury is prepared to take further action if necessary to support President Trump’s effort to end yet another war. We encourage our allies to join us in and adhere to these sanctions," he added.

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Trump-Putin meeting on hold

Trump said that he did not want a “wasted meeting” with Russian President Vladimir Putin after the possibility of an in-person meeting between the two was shelved.

“I don’t want to have a wasted meeting,” Trump told reporters in the Oval Office when asked why the Putin encounter had been put on ice. “I don’t want to have a waste of time, so I’ll see what happens.”

Trump indicated that a key sticking point between him and Putin remains Russia’s refusal to stop fighting along the current front line. The White House on Tuesday announced that there are currently “no plans” for a meeting between the two leaders.