Russian officials have repeatedly highlighted the November APEC summit in Shenzhen as the most immediate venue where Presidents Trump and Putin could hold in-person talks, with Kremlin aides noting both leaders’ expressed interest in attending and potential bilateral or trilateral discussions alongside Xi Jinping. Recent phone calls between Trump and Putin, including agreements on energy supplies, have reinforced trader focus on this China-hosted event scheduled for mid-November. Limited U.S. confirmation of Trump’s attendance and the absence of firm commitments for alternative sites keep probabilities for a U.S., Russian, or other location meeting low, while the “no meeting by year-end” option reflects scheduling uncertainty. No other multilateral forums or bilateral plans have emerged in the past month to shift the current pricing.