Tom Keatinge reacts to Trump-Putin Summit in Alaska

For the self-styled master of the deal, the economic dimension of the summit is probably where Trump had the most to offer. The lead-up to the summit contained a range of contradictory signals mixing carrots (investment deals and sanctions relief) with sticks (heavier sanctions and more tariffs on Russia’s oil trading partners, notably India, to reduce Russia’s oil income).

Arriving with a ‘business’ team seemingly ready to discuss deals with Trump, Putin got none of the carrots he perhaps hoped for. Equally, from the little we have learned from the leaders’ post-summit remarks and travelling teams’ comments, the threat of further economic pressure was not discussed. Thus the status quo remains. All eyes will now turn back to the impending imposition of 25% tariffs on India for its purchase of Russian oil.

In short, with Russia’s economy on the ropes, Trump remains bafflingly unwilling to apply the maximum economic pressure on Russia that would mean summits like those held yesterday are more likely to yield the success Donald Trump craves.