The Trump-Putin meeting in Budapest was cancelled after Russia sent a memorandum demanding territorial concessions from Ukraine, major force reductions, and NATO membership ban, Financial Times reports citing sources. 
Yes, in late October 2025, the Russian Foreign Ministry sent a memorandum to Washington that reiterated its maximalist demands to end the war in Ukraine, including significant territorial concessions. This communication led to the cancellation of a planned summit between US President Donald Trump and Russian President Vladimir Putin in Budapest. [1, 2, 3, 4]  
The key demands outlined in the memo included: 
- Territorial concessions: Ukraine must cede the additional territory Russia claims, which includes the entirety of the Donetsk, Luhansk, Zaporizhzhia, and Kherson regions, and recognize their annexation by Russia.
- A sharp reduction of Ukraine’s armed forces.
- Guarantees that Ukraine will never join NATO.
- The lifting of all sanctions against Russia. [3, 5, 6]
US officials reportedly cancelled the summit after determining through a phone call between US Secretary of State Marco Rubio and Russian Foreign Minister Sergei Lavrov that Moscow was unwilling to negotiate or soften its hardline position. Ukrainian President Volodymyr Zelenskyy has consistently stated that Ukraine will not agree to any territorial concessions. [5, 7, 8, 9]  
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[7] https://mezha.net/eng/bukvy/us-cancels-trump-putin-budapest-meeting-over-russia-s-ukraine-demands/
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