• Historic summit: President Donald Trump and Russian President Vladimir Putin will meet today in Anchorage, Alaska at 11:30 a.m. local time (3:30 p.m. ET). Trump said he believes Putin wants to make a deal to end the war in Ukraine, but also that the meeting has a 25% chance of failure.

• High stakes: Trump has threatened Russia with “very severe consequences” if Putin doesn’t agree to end the war. If the summit goes well, Trump suggested organizing a trilateral meeting with Ukrainian President Volodymyr Zelensky that may include European leaders who remain deeply wary of Putin.

• Putin’s perspective: The Russian leader praised the Trump administration’s efforts to stop the war and hinted that Moscow and Washington could strike a deal on nuclear arms control during their summit.

• A sticking point: Any peace deal around Ukraine would need to involve agreement on territory, with Russia occupying almost a fifth of Ukraine’s land. Here are the key regions that Putin wants.

President Donald Trump will meet one-on-one today with Russian President Vladimir Putin in Anchorage, where the two leaders are expected to discuss the war in Ukraine.

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