**Diplomatic efforts under the Trump administration have centered on technical-level trilateral talks proposed for Abu Dhabi and an energy ceasefire, yet Russian positions remain unchanged, with Putin conditioning any leaders' meeting on prior bilateral agreements and territorial concessions.** Zelenskyy has repeatedly called for a direct trilateral summit, including at the December G20, but Moscow has declined similar formats and shown no readiness for a leaders-level encounter before year-end. Recent Trump-Putin calls and envoy visits have produced statements on future memoranda without advancing a confirmed three-way meeting, reflecting deep gaps over security guarantees, neutrality, and battlefield realities. These structural barriers sustain trader consensus that such a summit is improbable before 2027.