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Canadian Economy and Markets

In the lead-up to the call between Russian President Vladimir Putin and U.S. President Donald Trump on Tuesday, hosts on Russia’s state media were buzzing with anticipation.

One broadcaster on the channel Russia 1 described it as “the most important telephone conversation in the modern world.”

When the 2½-hour call wrapped, Russian media were quick to note that it was the longest one ever between a U.S. and Russian president. And that alone was enough for some to label it a diplomatic victory.

“It’s now official: this is the perfect phone conversation,” wrote Kirill Dmitriev, Putin’s special envoy on international economic co-operation, on X.

While the readouts released by the White House and the Kremlin were scant and only revealed what each side wanted to present as the major takeaways — including an agreement to stop attacks on energy infrastructure in Ukraine — Trump called the conversation “very good,” and the Kremlin noted that both leaders understood and trusted …

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