Oil Slides As Russia Willing To Resume Trilateral Talks With Ukraine, After ‘Productive’ Witkoff Visit

The Kremlin has on Wednesday communicated to Trump envoy Steve Witkoff that Russia is “in principle, ready to resume” trilateral negotiations involving the US and Ukraine, toward finding a permanent settlement to the war.

Oil prices slipped lower on the report…

Witkoff briefed President Putin at Constantine Palace in St. Petersburg on Wednesday, coming off the prior Tuesday Oslo meeting involving Ukraine’s Zelensky.

Russia described a generally ‘productive’ atmosphere and talks, but no particular breakthroughs were announced, but only plans for a next possible meeting to continue the dialogue. Abu Dhabi was named as a possible next venue, though the Iran war could change that.

Below is the key aspect of the official readout from Wednesday talks via TASS:

Russian President Vladimir Putin informed the US president’s special envoy, Steve Witkoff, that Russia is ready to resume trilateral talks on the main subject around November 10, Russian Presidential Aide Yury Ushakov said.

“Our president informed Steve Witkoff that we are ready in principle to resume the above-mentioned trilateral talks around November 10 on the main subject,” Ushakov said. “This topic is about building a security system for Russia and Ukraine.”

The Kremlin aide who was cited, Yury Ushakov, further described that prior such efforts were derailed by Ukraine’s long-range drones strikes, especially as the country’s parliamentary elections were being held.

But there’s also been significant changes in Washington’s posture in Ukraine, Ushakov noted, and this caused Moscow’s stance to in turn be “re-evaluated, taking into account the signals received from the Americans.”

Witkoff did not get the super-long table like Macron

— Jack Posobiec (@JackPosobiec) October 21, 2026

Not only did Trump and Putin agree to the Russian diesel release deal, but the US President waived the Graham sanctions package. 

Following this, Wednesday saw the release from Russian custody of Stephen Hubbard, an American who is accused of fighting as a mercenary for Ukraine forces when he was captured in 2022.

Trump hailed the development on Truth Social, writing: “Stephen is on his way back home and will soon be with his family. The United States, out of respect for President Trump, was not required to give anything in return — an unprecedented situation for Russia.”

Putin’s meeting with US special envoy Steve Witkoff has ended after just over three hours. Immediately afterward, Putin met Chinese Premier Li Qiang. Witkoff and Kirill Dmitriev separately met released American Stephen Hubbard following the talks. #Russia https://t.co/IrwQNDN4dI

— NOELREPORTS 🇪🇺 🇺🇦 (@NOELreports) October 21, 2026

It seems this is a Kremlin ‘thank you’ to Trump for doing the diesel deal, and for at the last minute waiving the sweeping Graham sanctions package, which outraged hawks and Democrats in Congress.