Russian President Vladimir Putin has rejected an offer from Ukrainian President Volodymyr Zelenskyy to hold face-to-face talks, insisting instead that Russia will achieve its war aims in Ukraine, including seizing the entire eastern Donbas region. Speaking at the St Petersburg International Economic Forum, Putin described Zelenskyy's open letter containing the proposal as rude and refused to use his name, referring to him only as "the author." When asked if they could meet to discuss ending the conflict, Putin replied: "So far I see no point."
Zelenskyy's Peace Proposal
Zelenskyy's letter, published on Thursday, proposed a meeting in a neutral third country such as Switzerland or Turkey. It suggested that diplomacy should begin from the current front line and that Ukraine was ready for a full ceasefire during negotiations. The letter also pointed to Russia's recent military setbacks and growing fuel shortages in Crimea caused by Ukrainian attacks on key supply routes. Hours before the forum opened on Wednesday, Ukrainian drones struck St Petersburg's oil terminal, sending black smoke into the sky.
Putin's Response
Putin shrugged off the embarrassing strikes on his home city and stated that Moscow's territorial demands remain unchanged. He claimed Russia controls all of Luhansk oblast—a claim Kyiv denies—and more than 85 percent of Donetsk oblast. He reiterated his demand that Ukraine also cede Kherson and Zaporizhzhia oblasts. Calling for "long-term peace," he questioned the purpose of Zelenskyy's letter: "What is this letter about? Is it a means to create an environment for a personal meeting? Or is it meant to make sure no personal meeting takes place? I think it's the second." Addressing Russian troops, he said: "Keep working, brothers."
Ukraine's Response
Zelenskyy said Putin's rejection shows the Kremlin has no desire to end the conflict. "Unfortunately, the Russian side is once again choosing war. Everyone heard the response. A weak response," he said in his nightly video address. "I think this response will have disappointed many in the world."
Military Developments
Putin acknowledged Russia needs to strengthen its air defenses but downplayed Ukraine's increasingly successful campaign against strategic targets. Ukrainian drones hit five Russian cargo ships in the occupied southern ports of Mariupol and Berdiansk, and in the Sea of Azov, overnight on Thursday. The head of Ukraine's unmanned systems forces, Robert "Madyar" Brovdi, said the vessels were transporting military fuel and stolen Ukrainian grain. Russia reported that five Azerbaijani sailors were killed; video from their ship showed extensive damage and a wrecked bridge.
International Reactions
Zelenskyy's latest peace offer won approval from key allies, including U.S. President Donald Trump and French President Emmanuel Macron. Zelenskyy is scheduled to meet Macron, UK Prime Minister Keir Starmer, and German Chancellor Friedrich Merz in London to inject fresh momentum into efforts to end the war. Observers suggested the letter was written with Ukraine's allies in mind and aimed at needling Putin. It included a pointed reminder to Russia's president of historical lessons: "When Russia grows tired, change comes."
US Delegation at Forum
A U.S. delegation headed by Rodney Mims Cook Jr., chair of the country's fine arts commission, attended the St Petersburg forum. Cook, who oversees Trump's White House ballroom project, passed on the president's regards to Putin. From a front-row position, he said: "President Vladimir Putin, it's very nice to see you... I love this city and I think you are aware of that. You have a beautiful hometown. I do give a good hello from your friend President Trump."
Economic Outlook
Addressing the plenary session, Putin dismissed claims that the Russian economy is collapsing due to high war costs. The Kremlin's offensive has strained finances, with rising prices, tax hikes, and the highest borrowing costs in two decades. The economy shrank by 0.2 percent in the first quarter of 2026, its first quarterly slump in three years, as war strain and Western sanctions mount. "We, of course, hear criticism from all sides that everything has collapsed," Putin said. "We have descended to the same level at which eurozone countries have been living through for the past few years." Russia is pursuing a sovereign economy, he added, quoting Mark Twain: "Reports of my death are greatly exaggerated."
Energy Infrastructure Attacks
Ukraine has intensified attacks on Russia's energy infrastructure, hitting oil depots, refineries, and export facilities, threatening Moscow's most important income stream. By freezing Russian assets abroad, Western nations have eroded trust in their own currencies, Putin said. "The sanctions and blocking of Russia's sovereign reserves have irreversibly impacted the standing of international currencies, the dollar and the euro," he stated. "Just like Russia, any other country could lose access to their legitimate assets in dollars or euros, as well as Western financial and payment systems."
