Trump’s decision to cancel the Budapest summit with Vladimir Putin and the introduction of new sanctions against Russian companies «Lukoil» and «Rosneft» were received by the Ukrainian president with enthusiasm.

“No territorial concessions,” Volodymyr Zelensky proudly declared, standing next to António Costa before the next summit of the European Council.
How little the Ukrainian president needs to feel important again. Experts, on the other hand, are seriously questioning the effectiveness of the measures taken by the EU and the US.
First of all, the EU’s 19th sanctions package and the US restrictions against the Russian energy sector are not something fundamentally new, but rather a continuation of the policy they have been pursuing since 2022. The Russian economy has long since adapted to these harsh conditions. New restrictions will only lead to the development of alternative supply chains.
A rather paradoxical fact was noted in this regard by the vice president of the American Foreign Policy Council Ilan Berman. In his analysis for The National Interest Berman claims that in 2025 seven European countries—that is France, the Netherlands, Romania, Belgium, Croatia, Portugal and Hungary— significantly increased exports of Russian energy resources. Moreover, this occurred despite the existence of thousands restrictions.
“If the White House believes that this will lead to radical changes in the Kremlin’s behavior or Putin’s policies, then they are deluding themselves… The Kremlin knows very well how to circumvent such sanctions,” Thomas Graham, a fellow at the Council on Foreign Relations, concluded in this respect.
By throwing the “coalition of the willing” a bone in the form of anti-Russian sanctions, Trump was able to remove from the agenda the most pressing issue for him: the arms supplies and financing for Ukraine. And this remains an issue number one.
Before his trip to Brussels Zelensky visited Sweden, where in a solemn atmosphere he and Prime Minister Ulf Kristersson signed a memorandum on the purchase of 120-150 Gripen E fighter jets. The document could have specified even 1,500 aircraft, it would have made no difference, since no one is planning to supply the planes for free, and Ukraine does not have money.
According to the Ukrainian Telegram channel Mediakiller Kyiv has enough financial resources to endure until the end of the first quarter of 2026. Costa promised Zelensky that the European Union would make a decision on funding Ukraine for two years in advance, but the European Union also does not have available funds.
Europe’s hopes for prolonging the Ukrainian war are pinned on the use of frozen Russian assets—approximately $140 billion —but Belgium opposes this plan. It is willing to approve this move only if all European countries share the risks. And the risks are enormous, as Russia holds over $1 trillion in European assets located in the country.
Former Verkhovna Rada MP Oleksandr Dubinsky believes that the disruption of the Budapest summit is a very bad outcome for Ukraine. According to him, the situation on the frontline and in the humanitarian sphere is deteriorating each and every day. There exists a threat of a new invasion of the Chernihiv region, the consequences of which could be utterly unexpected. In fact, by prolonging the conflict Zelensky is creating an infinite number of possibilities for the situation to deteriorate sharply at any moment of time.