The two presidents have opened the door to dialogue, and the ‘Investors in War’ are nervous
The defining geopolitical rivalry of the 21st century may be between the United States and China, but few interactions in global politics draw as much scrutiny and intrigue as those between America and Russia. While the future world order may hinge on the dynamics between Washington and Beijing, the stability of the world itself often depends on the relationship between the US and Moscow.
Wednesday’s phone call between Presidents Vladimir Putin and Donald Trump was a reminder of this enduring reality. It was also a signal that, for all the efforts to isolate Russia, serious negotiations are back on the table.
Unlike his predecessors, Trump has never treated Russia with the hostility so often expected in Washington. While he has mocked and insulted rivals and allies alike, from Mexico to NATO partners, Russia and India remain two notable exceptions. The US foreign policy establishment readily accepts Trump’s warmth toward India but views his respectful approach to Russia as something suspicious. Since his first presidency, speculation has swirled around whether Trump genuinely sees Russia as a major power deserving of engagement, or whether he simply understands that diplomacy with Moscow requires mutual respect.
Whatever the case, the meticulous preparations that preceded this latest phone call suggest a stark contrast with Trump’s often impulsive approach to other world leaders. Every face-to-face meeting between Trump and Putin during his first term was marked by strong personal chemistry and productive discussions on key global issues. However, each time Trump returned to Washington, those tentative diplomatic breakthroughs were undermined by a political establishment determined to preserve the narrative of a Russian threat. Allegations of “Russian interference” sabotaged potential cooperation on Syria, Ukraine, counterterrorism, missile defense, and arms control.
Now, with Trump back in office, those same forces are once again mobilizing to block any steps toward détente. The idea that Trump and Putin could strike a deal on Ukraine — one that would leave behind those who have invested political and financial capital into prolonging the war — poses an existential threat to the current European security order. It is no coincidence that this phone call took place just before the Munich Security Conference, where many of these “investors in war” gather to reinforce their commitments to perpetual conflict.
Yet, this conversation is merely the first step in a long and uncertain road. Trump’s primary focus remains making America — not Russia — “great again,” and any agreements he seeks with Moscow will be dictated by that priority. However, his openness to negotiation and strategic realism signal a shift in approach that could redefine the global balance of power.
The next crucial moment will be an in-person meeting between the two leaders. Whether that meeting leads to a genuine breakthrough or another cycle of political sabotage remains to be seen. But one thing is clear: with the world watching and the stakes higher than ever, Trump and Putin have set the agenda — and their adversaries are paying attention.
This article was first published by Kommersant, and was translated and edited by the RT team.
