Ongoing diplomatic efforts between Russia, Ukraine, and the United States have stalled amid persistent disagreements over the format and conditions for any direct meeting between Vladimir Putin and Volodymyr Zelenskyy. Russian officials have rejected proposals for immediate trilateral or bilateral talks, citing recent Ukrainian drone strikes on Moscow during parliamentary elections as a disruption, while insisting on a comprehensive peace agreement rather than temporary ceasefires or elections-related pauses. Ukraine has signaled readiness for leader-level discussions, potentially mediated by the US or Turkey, but Moscow maintains that preconditions remain unmet. These dynamics, combined with the active conflict's continuation, underpin trader consensus favoring no bilateral summit by late 2027, though shifts in US facilitation or battlefield developments could alter timelines.