Trump plans to use oil prices and the Ukrainian mineral deal to pressure Putin into accepting peace.

US President Donald Trump stated that falling oil prices are increasing pressure on Russia and raising the likelihood of a peace deal being reached that will end the war in Ukraine.

“Now that oil prices are down, we have a good time to make a deal. Russia wants to make a deal, Ukraine wants to make a deal,” Trump said.

He has repeatedly called on OPEC to increase production and lower prices, arguing that this would deprive Russia of revenue and help end the war. The administration has also threatened new sanctions and other pressure measures as peace talks have progressed slowly.

According to US Treasury Secretary Scott Bessent, Trump has viewed the deal with Ukraine to jointly develop natural resources as a tool to heighten pressure on Russia during peace negotiations. He added that the concept of concluding such an agreement originated with Trump himself, who believed that an economic partnership with Ukraine would demonstrate the unity of Washington and Kyiv’s positions and provide the US with additional leverage to pressure Russian leadership.

Furthermore, according to Trump, Putin’s proposal for a three-day ceasefire is a significant step towards a peaceful settlement.

“It doesn’t sound like much, but it’s a lot, if you know where we started,” the American president noted.