Putin rejects Zelensky's open-letter offer of direct talks, says war will end only when Russia's goals are met

The open letter

On Thursday 4 June, Ukrainian president Volodymyr Zelensky published an open letter to Vladimir Putin proposing a direct meeting on neutral ground to negotiate an end to the war. The letter, released at 21:20, suggested Turkey, Arab countries, or Switzerland as possible venues and called for a strict ceasefire, a full prisoner exchange, and the return of Ukrainian children taken during the conflict. Zelensky wrote that Putin's 26 years in power had transformed bilateral relations from trade and civilian matters into 'exchanges almost exclusively focused on strikes and losses.'

Ukraine proposes to end this war through direct contact between you and us. I propose a meeting.

Zelensky framed the war as Putin's 'personal choice — a war without real motive,' and noted that Russians themselves were increasingly uncomfortable with drone strikes, fuel shortages, and rising prices. The letter arrived hours after Ukrainian drones struck a petroleum terminal in Saint Petersburg on the morning of the SPIEF economic forum, disrupting air traffic and shaking the 20,000 attendees from 130 countries.

Putin's response at SPIEF

Speaking Friday at the Saint Petersburg International Economic Forum, Putin rejected the proposal outright. He said a summit held 'no interest' until a final peace agreement had been negotiated in advance by specialists. 'I see no point in a meeting. It is only of interest to the Ukrainian side in order to stop the advance of our armed forces,' Putin told the forum, where he was expected to address economic difficulties caused by Western sanctions. He added that hostilities would end 'when we have achieved the objectives we set for ourselves.'

We proceed from the assumption that hostilities will end one day. And, without a doubt, they will cease when we have achieved the objectives we set for ourselves.

Zelensky's reaction

Later on Friday, Zelensky responded on social media, calling Putin's reply 'a weak answer.' 'Unfortunately, the Russian side is still choosing war,' he said. 'Everyone heard today's response. He simply does not want to end the war.' The Ukrainian president has long sought a prolonged ceasefire to create conditions for negotiations, while Moscow demands political and territorial concessions, including a full Ukrainian withdrawal from the Donetsk region — terms Kyiv equates to capitulation.

The economic backdrop

Putin used his SPIEF address to downplay Russia's economic strains, acknowledging 'moderate' growth dynamics while emphasising sovereignty and expanding partnerships with BRICS nations. Russian GDP contracted 0.2% in the first quarter of 2026 — the first quarterly decline in three years — and the state posted a budget deficit of $80 billion over the first four months, equivalent to 2.5% of annual GDP and already exceeding the full-year forecast. Inflation remains elevated and borrowing costs are prohibitive, though Putin pointed to a 'considerable slowdown in inflation' and stressed that Russia's sovereign debt is among the lowest in the developed world at roughly 16% of GDP, with a sovereign wealth fund of about €156 billion. Hydrocarbon exports have risen substantially since the outbreak of war in the Middle East.

We hear the criticism. From all sides we are told that everything is bad with us. Yes, the economic dynamic is currently moderate.

Military and diplomatic context

The exchange unfolded against a backdrop of Ukrainian strikes on Russian energy infrastructure, which have caused domestic fuel shortages and forced export reductions. On the diplomatic front, the US House of Representatives passed a multibillion-dollar aid package for Ukraine on Thursday with support from 18 Republicans, though the Senate and President Donald Trump could still block the legislation. Several rounds of US-mediated negotiations in recent months have failed to bring the parties closer to a settlement, with the process stalling further as Washington's attention shifted toward Iran. The war, now in its fifth year, has caused hundreds of thousands of deaths and millions of refugees.

Stalled negotiations

Russia continues to reject Kyiv's call for an extended ceasefire, arguing that any pause would allow the Ukrainian military to regroup. Moscow insists on a complete Ukrainian withdrawal from Donetsk, while Ukraine refuses terms it considers a surrender. The front line remains largely frozen despite the diplomatic back-and-forth.