Witkoff heads to Oslo for talks with Zelensky and hopes to see Putin next

White House envoy Steve Witkoff is travelling to Oslo for talks on Tuesday with Ukrainian President Volodymyr Zelensky and European leaders, a US official told Axios¹. Jared Kushner, President Donald Trump’s son-in-law, is also expected to travel to Norway to meet Zelensky, the Financial Times reported². Ukrinform, citing Reuters, said the two men plan a new round of talks on ending the war⁴.

Anadolu reported, citing local media, that the Oslo talks are expected to include the Norwegian prime minister and representatives of the E4, the EU and NATO alongside Zelensky³. After Oslo, Witkoff hopes to visit Russia and meet President Vladimir Putin, according to an Axios reporter cited by APA⁵. Firstpost described the Oslo meeting as a step to prepare a proposal for Putin⁶.

Separately, Secretary of State Marco Rubio told Zelensky in a phone call on Tuesday that Trump has not issued any kind of order to harm Ukraine, Axios reported⁷.

Why it matters to investors

The talks open against a visible rift. Reuters reported that Trump said Zelensky should get somebody else to negotiate an end to the war⁹. Al Jazeera reported that relations had soured as the two leaders clashed over talks and arms, and quoted Zelensky as saying the decision “will hurt Ukraine”¹⁰. The New York Times reported that Trump’s recent steps that seem to favour Putin reflect his intensifying desire to normalise the relationship with Moscow¹¹.

Kyiv’s account of US support differs from Washington’s. Zelensky lobbied a bipartisan group of senators on Monday to press the administration to remove what he claimed are restrictions on intelligence sharing and weapons supplies⁸. Ukrinform reported that Defence Secretary Pete Hegseth has delayed approval of Patriot missile transfers to Ukraine but has not rejected them¹². Rubio’s assurance is the administration’s own description of its intent⁷.

The FT linked the talks to energy, reporting that they come as an energy crunch looms over the US midterms². That framing ties the diplomacy to fuel costs, which have become a political issue ahead of the vote².

What to watch

The first marker is whether Oslo produces a proposal that Witkoff carries to Moscow^5,6. The second is whether European participation, through the E4, the EU and NATO, changes the terms on the table³.

Investors will also watch whether the Patriot transfers Hegseth has held back are approved, which would signal whether Washington’s tone toward Kyiv is softening^7,12.