The ongoing Russia-Ukraine conflict, now in its fifth year, has produced no direct Putin-Zelenskyy summit, leaving the "no meeting by December 31, 2027" outcome at the head of trader consensus. Recent U.S. diplomatic efforts have centered on reviving trilateral technical talks, with proposals for venues such as the UAE, while Zelenskyy has signaled openness to Turkey as a host following bilateral discussions on the sidelines of the UN General Assembly. Russia continues to condition any leader meeting on Moscow or reject neutral-site formats outright, sustaining barriers to progress. Multiple European and Middle Eastern locations, including Switzerland, the United States, Saudi Arabia, and others, cluster near 20 percent as traders weigh historical mediation roles, security considerations, and shifting great-power involvement without a clear breakthrough on the horizon.