Overview
- Reports citing the Financial Times say Washington canceled or postponed the planned Budapest meeting after Russia restated its preconditions for ending the war in Ukraine, with Reuters noting it could not independently verify the account and both sides declining comment.
- The Russian Foreign Ministry sent a memo outlining the so‑called root causes of the conflict, including Ukrainian territorial concessions, major force reductions, and a bar on NATO membership.
- President Donald Trump said he would not waste his time without a clear path to a deal and announced sanctions on Rosneft and Lukoil, signaling a tougher U.S. posture.
- Kremlin spokesperson Dmitry Peskov told TASS there is currently no need for a leaders’ summit and called for meticulous work on settlement details.
- Hungary loses a coveted hosting role as Viktor Orbán faces pressure over reliance on Russian energy and prepares to visit Washington on Nov. 7 to discuss the sanctions’ impact.