President Donald Trump has called off his planned meeting with Russian President Vladimir Putin in Budapest, citing frustration over Moscow’s refusal to pursue an immediate ceasefire in Ukraine. The summit, initially scheduled for the coming weeks, was abandoned after Russia reiterated its stance against halting hostilities.

Trump expressed dissatisfaction during a recent call with U.S. Secretary of State Marco Rubio, stating he did not want “a wasted meeting” with Putin. Russian Foreign Minister Sergey Lavrov later emphasized Moscow’s continued opposition to an immediate ceasefire, asserting that any pause in fighting would lack substance.

The Kremlin sought to downplay the cancellation, with Putin’s press secretary Dmitry Peskov noting that summit dates had not been finalized and preparations remained ongoing. However, Trump’s decision followed escalating U.S. pressure, including new sanctions against Russia’s largest oil companies. Treasury Secretary Scott Bessent described the measures as a step toward ending “the killing” in Ukraine.

Trump framed the sanctions as necessary after prolonged delays, stating he had “waited a long time” to act but hoped the restrictions would be temporary if the conflict concluded. The move underscores deepening U.S.-Russia tensions amid unresolved disputes over Ukraine.