Persistent diplomatic obstacles, including Russia's insistence on preconditions and lower-level talks before any direct Putin-Zelensky engagement, have prevented a trilateral meeting of Trump, Putin, and Zelensky despite U.S. efforts since the August 2025 Alaska summit. Recent envoy missions by Kushner and Witkoff to Moscow and Kyiv in September 2026, along with earlier trilateral envoy sessions in Abu Dhabi and Geneva, reflect ongoing but stalled negotiations focused on security guarantees and territorial issues rather than leader-level summits. With the war continuing into late 2026 and Moscow showing little flexibility on direct bilateral or trilateral formats, trader consensus assigns only a low implied probability to the three leaders being seen together before 2027. A sudden breakthrough in current talks remains a narrow pathway that could alter this positioning.