The prospect of a summit in Budapest has fallen through, and the front lines in the Russo-Ukrainian conflict remain unchanged, resulting in a prolonged war of attrition that is both military and political.
Vladimir Putin appears convinced that time favors his strategy, while Volodymyr Zelensky struggles to maintain the war effort under difficult conditions.
Within Europe, debates around confiscating Russian assets or using joint European borrowing have deepened divisions. The continent faces a difficult choice between protecting economic interests and maintaining political reputation.
Meanwhile, the approach taken by Donald Trump is viewed as increasingly self-serving amid these tensions.
The current balance of power is complex and fluid. The diplomatic landscape is marked by cancelled meetings and stalled negotiations, underscoring how far a resolution still is from reach.
“This cancellation is not surprising, as Russia’s positions have not changed since the Anchorage summit. Even though the Russian economy has entered a cooling phase, Vladimir Putin still likely believes that time works more in his favour than in Ukraine’s.”
Igor Delanoë, Associate Research Fellow at IRIS and expert on Russian geopolitics, analyses the strategies and goals of the main actors: Volodymyr Zelensky, Vladimir Putin, and Donald Trump.
The evolving situation reflects a war not just of arms, but one shaped by political calculations and diplomatic standoffs, with no clear resolution in sight.
The Russo-Ukrainian conflict currently remains locked in a stalemate, marked by political deadlock and deep divisions on the international stage that obstruct efforts toward peace.
Author’s note: This conflict continues to test the limits of diplomacy, revealing entrenched positions and strategic patience as key factors defining its uncertain future.