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Fortune
Fortune
Jeffrey Sonnenfeld, Steven Tian

Is Putin playing Trump or is Trump playing us?

Trump, Putrin (Credit: Andrew Harnik/Getty Images)

With this week’s Russian missile and drone onslaught across Ukraine, which included the largest bombardment of Kyiv since February 2022 — it’s clear that despite President Donald Trump’s claims that he would be able to end the conflict quickly, we are still far away from an end to Vladimir Putin’s. A cease-fire remains elusive, despite Trump signaling one in Alaska last month — and threatening Putin with vague “severe consequences” if it failed to take place.

Russian sanctions under President Biden were substantial, but they were insufficient and underenforced, and military supply deliveries were often tardy. Still, that Administration’s rhetoric and actions were consistent in support for Ukraine. Disturbingly, despite occasional tough talk from Trump which we have saluted over the past eight months, it seems he is unwilling to exert any actual leverage on Putin. Trump has had all the cards and dropped the deck as Putin’s imploding economy leaves Russia far from being an economic superpower. Other world leaders now wonder if he is all bark and no bite.

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