On August 15, President Donald Trump and President Vladimir Putin met in Alaska to discuss the Russia-Ukraine peace deal. Ivan Timofeev analyses the stakes for Russia, the U.S., Europe, and Ukraine, noting that Washington and Moscow remain decisive players while Europe and Ukraine play secondary roles. Could this meeting pave the way for peace? For India, the talks matter, as it faces an additional 25% tariff for buying Russian oil.

There was much at stake for the U.S.-Russia summit at Alaska – more than just the future of Ukraine. It will put the world back on economic track, and ease East-West relations, under stress for an on-going tariff war. For now, diplomacy has played a successful hand.

The world order that came about in the aftermath of World War II was a western-oriented construct that has become obsolete in many ways. The changes underway offer India an opportunity to participate in the crafting of political and economic institutions that are more pertinent to the emerging geopolitical equations

This speech was delivered at ‘Industry Meet 2018’, organised by the Indian Institute of Management, Indore, in collaboration with the Ministry of External Affairs, Government of India, on 7 July 2018