Steve Witkoff and Jared Kushner met with Russian President Vladimir Putin to discuss the ongoing conflict in Ukraine. This meeting resulted in a temporary ceasefire agreement that allowed the two envoys to travel to Kyiv. This localized ceasefire marks a pause in hostilities but does not constitute a lasting peace agreement. Market pricing suggests increased optimism for a formal ceasefire by the end of 2026, with an 8-point rise in odds for a December 31 resolution. Observers are closely monitoring official statements regarding any extension of the current truce beyond the envoys’ visit.
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