Zelensky: Ukraine-US-Russia trilateral format to resume Nov 10-11

The return of a trilateral format at team level is notable less for what it produces than for the fact that all three sides are again in the same channel; the sequencing toward a leaders-level meeting is the signal to weigh. Markets exposed to conflict-driven risk premia — energy, grains, and the broader risk backdrop that touches crypto and RWA flows — are sensitive to whether this process holds, though team-level talks are the earliest and most reversible stage. Whether the format survives contact with the substantive agenda, and whether a leaders-level meeting actually gets scheduled, is the open question.