President Trump has proclaimed an "energy ceasefire" between Russia and Ukraine, a move that has garnered a mixed reaction from Ukrainian officials.
"[It's] news for me," said Ukrainian President Zelensky, "but if Russians agree to an energy ceasefire, Ukraine will agree."
In a statement on Truth Social, Trump said, "Effective immediately, there is an ENERGY CEASEFIRE in the War between Russia and Ukraine. Both parties have agreed. Do not break it!" This announcement marks the second time Trump has made such a declaration, as noted by Bloomberg’s Javier Blas.
Ukrainian President Zelensky expressed surprise at the news, stating, "The ceasefire announcement was news for me. But if Russians agree to an energy ceasefire, Ukraine will agree." He further added, "If President Trump negotiated it with Putin, please tell us when the ceasefire begins — we are ready, and we will accept it."
Despite the significant announcement, market reactions have been muted. Oil prices remain stable on Hyperliquid, and traditional oil trading has not yet opened for the day. Meanwhile, cryptocurrency values are relatively unchanged, with Bitcoin trading just below $83,000.
As the U.S. midterm elections approach, the implications of this announcement remain uncertain. According to Polymarket, the likelihood of a Democratic sweep in both the House and Senate has risen to 62%. Whether Trump's declaration signals a genuine peace initiative or is merely a strategic maneuver ahead of the elections is yet to be determined.