Donald Trump, Vladimir Putin and Xi Jinping will hold their first three-way meeting on 19 November in Shenzhen, on the sidelines of the Asia-Pacific Economic Cooperation summit, the Kremlin and the White House said on Saturday.
MoneyTurkey Politics Desk | 14 November 2026
Key points
- Kremlin spokesman Dmitry Peskov said the three leaders agreed to meet in Shenzhen on 19 November
- Trump wants to discuss nuclear arms and the Iran war; a US official said Ukraine will not be on his agenda
- A senior US official said Washington does not expect “any kind of agreement”
- The talks have drawn comparisons with the 1945 Yalta Conference
What happened
“An agreement has been reached to hold a trilateral meeting on the 19th between President Putin, Chairman Xi and President Trump,” Peskov told Russian state news agency Tass, according to Anadolu. The White House confirmed the meeting, Al Jazeera reported, citing AP and Reuters. The APEC summit runs on 18 and 19 November in Shenzhen, China’s tech hub.
Kremlin aide Yury Ushakov said last month that preparations had begun and that Moscow, Beijing and Washington were ready in principle to meet, Anadolu reported. Russia and the US have not agreed a separate Putin-Trump meeting on the sidelines.
No agenda or format has been finalised, two people familiar with the talks told Reuters, according to The Times of India. China’s embassy in Washington said it was in contact with the parties but had nothing to share.
What is on the table
Trump has called the meeting a chance to reach a deal on nuclear stockpiles. The New START arms treaty between Washington and Moscow lapsed in February, leaving the two largest nuclear arsenals without caps, and Trump has demanded a new deal that includes China, Al Jazeera reported. China, with a far smaller arsenal, has been reluctant to join such talks, and The Guardian reported that Beijing is already trying to push nuclear disarmament off the agenda.
“We do not expect to get to any kind of agreement,” a senior Trump administration official said, describing the meeting as the start of a conversation, Al Jazeera and The Times of India reported. Trump plans to discuss the Iran war but steer away from Russia’s war in Ukraine, the official said.
Why it matters for markets
The meeting brings together the leaders of the world’s three biggest nuclear powers, with the wars in Iran and Ukraine both in the background. China’s demand for oil means it needs open waterways, The Guardian noted, and a Chinese think-tank head told the paper Beijing might provide guarantees in Iran. Any line on the Iran war, sanctions or trade would matter for oil, but Washington expects no deal yet.
The Yalta question
Ukrainian President Volodymyr Zelenskyy has warned that the talks must not become a “Yalta 2.0”, with great powers dividing up influence without the countries affected, NBC News and The Guardian reported. Peskov rejected the comparison, saying agreements reached in Shenzhen cannot be imposed on others, but called the meeting “extremely significant”, Al Jazeera reported.
What to watch
- Any joint statement after the 19 November meeting
- Whether Beijing allows nuclear arms onto the agenda
- Any mention of the Iran war, sanctions or trade, and the reaction in oil
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For information only. Not investment advice.
