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President Donald Trump doubled down on his threat of Russian President Vladimir Putin facing “very severe” economic consequences if he blocks the Ukraine peace process. He reiterated the warning when speaking to reporters aboard Air Force One while on his way to Alaska for a high-stakes talk with Putin.

Trump has been pushing to end the Ukraine war since he took office. Despite a rocky relationship with Ukrainian President Volodymyr Zelenskyy — especially after a heated exchange in the Oval Office in February, Trump has taken a tough approach to Russia. However, at times he has doubted whether either Zelenskyy or Putin were prepared to secure a ceasefire deal.

One of the biggest obstacles to peace has been the possibility of territory swaps, something that Trump has pushed, and Zelenskyy has stood firmly against. There are concerns that these swaps would hand Russia some of Ukraine’s most strategic and resource-rich regions.

When addressing the issue, Secretary of State Marco Rubio said that it would “take some time” to work out details of potential territory swaps.

“I think the President’s hope is to achieve some stoppage of fighting so that those conversations can happen.  These are highly technical things that take some time to work out,” Rubio told reporters on Thursday.

The meeting in Alaska marks the first U.S.-Russia summit since 2021, and is expected to focus on ending Moscow’s war on Ukraine. 

On Thursday, Putin hinted that Russia could be open to reaching a nuclear arms deal with the U.S., though it is unclear if that would be on the agenda for Friday.

This is a developing story, please check back for updates.

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