00:00The United States has canceled the planned summit between President Donald Trump and Russian President Vladimir Putin in Budapest.
00:07The Financial Times reports that the decision comes after Moscow maintains a hardline stance on its demands regarding Ukraine.
00:18Just days after both leaders agreed to meet, Russia's foreign ministry sent a memo to Washington,
00:25repeating conditions it says address the root causes of the conflict.
00:29These conditions included territorial concessions, major cuts to Ukraine's armed forces and a guarantee that Ukraine would never join NATO.
00:39Meanwhile, Ukrainian President Volodymyr Zelensky said his country remains open to peace talks
00:44but will not withdraw troops from any additional territory as a precondition.
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