The Financial Times reported the information.According to the publication's sources, the leaders of the two countries had planned to hold a meeting in the Hungarian capital this month to discuss possible ways to end Russia's war against Ukraine. However, the Russian Ministry of Foreign Affairs later sent a memorandum to the U.S., in which it put forward a number of demands, including territorial concessions, a reduction of the Ukrainian Armed Forces, and guarantees of Ukraine's non-accession to NATO.After this, U.S. Secretary of State Marco Rubio had a tense phone conversation with the head of the Russian Foreign Ministry, Sergey Lavrov. As the FT writes, after the exchange of views, Rubio reported to Trump that Moscow was not showing readiness for constructive negotiations.According to the report, the decision to cancel the summit marked a significant turn in U.S. policy, coming less than a week after Trump had seemed to favor Putin by abandoning the idea of arming Ukraine with missiles. The report adds that U.S. officials already doubted whether further talks would be productive if Moscow did not change its position.After the cancellation of the summit in Budapest, Washington increased pressure on Moscow—imposing sanctions against Russia's two largest oil companies and criticizing the Kremlin for continuing nuclear tests instead of negotiations.Despite this, according to sources, Trump does not rule out the possibility of meeting with Russian representatives in the future—"when and where he believes progress is possible."On October 23, the American president announced that he had canceled the planned summit and expressed hope that the Russian dictator and President Volodymyr Zelenskyy would become more reasonable.Later, the U.S. leader noted that he is ready to hold a meeting with Putin on the condition that he is confident in the possibility of concluding an agreement to end the war in Ukraine.