U.S. President Donald Trump’s special envoy Keith Kellogg said in Kyiv on Monday that officials are “working very, very hard” on efforts to end the three-year war between Russia and Ukraine, as a lack of progress fuels doubts about whether a peace settlement could be on the horizon.

It’s been able to do so in part thanks to record oil and gas revenues, as it has filled a supply gap during the energy crisis triggered by Russia’s 2022 invasion of Ukraine. In 2022 alone, hydrocarbon sales generated roughly $150 billion for its national coffers,

Vice President JD Vance said Russia has made "significant concessions" in talks to end its war with Ukraine but didn't rule out imposing more sanctions on the Kremlin.