Trump Declares Energy Ceasefire Between Russia and Ukraine, Zelensky Says Kyiv Will Back It

President Donald Trump announced an “energy ceasefire” between Russia and Ukraine on Sunday, saying on Truth Social that it was effective immediately and that both sides had agreed. He warned them not to break it. The announcement comes a day after Kyiv offered to stop hitting Russian refineries if Moscow ends strikes on Ukraine’s power grid.

Zelensky Response to the Ceasefire Announcement

Ukrainian President Volodymyr Zelensky first said the announcement was news to him, but that Ukraine would agree if Russia does. Minutes later he posted on X that Ukraine supports the ceasefire, that Russia must back it too, and that Kyiv is waiting for details from the American side. This is reportedly the second time Trump has made a similar announcement.

Market Reaction: Bitcoin and Oil

Markets barely moved at first, with oil and crypto flat from Friday. After Zelensky’s post, bitcoin rose more than 1% to $83,900.

US midterms are less than a month away, and Prediction markets odds of Democrats winning both the House and Senate have climbed for months, now at 62%. It remains unclear whether this is a genuine peace step or an attempt to score a win before the vote.