Kremlin: No Putin-Trump Call Currently Planned

The signal here is the absence of a scheduled leader-level channel, not any new policy step. Peskov's wording leaves open whether contact could be arranged later, since no timing or agenda was disclosed, so the practical read is that top-down U.S.-Russia communication is paused at the call level. For markets that price geopolitical risk, the open question is whether other diplomatic tracks stay active while the presidential line goes quiet.