Zelenskyy’s June 2026 open letter proposed a direct leaders’ meeting, immediate ceasefire, and all-for-all prisoner exchange to end the war, drawing support from Germany, France, and the UK. Putin promptly rejected the overture at the St. Petersburg forum, calling the letter rude and stating he saw “no point” in face-to-face talks while Russia pursues its objectives in Donbas and elsewhere. Ongoing drone strikes and battlefield activity have continued without interruption. Trader consensus on an imminent handshake reflects these entrenched positions, Russia’s insistence on prior territorial and security concessions, and the absence of any scheduled bilateral summit or verified diplomatic channel between the two presidents as of early August 2026. Any shift would require a major change in Moscow’s stated conditions or external mediation breakthroughs.