Kremlin: Russia-US communication will continue, no clear vision for Russia-EU dialogue

The asymmetry here is the story: a working channel to Washington is being affirmed while the European track is described as having no agreed format, which leaves Brussels on the outside of any negotiating architecture being built. For markets exposed to European energy, sanctions and reconstruction narratives, the relevant signal is less about peace prospects than about which capitals will shape terms. Whether Europe's absence is temporary or structural is the open question, and any future hint of a revived EU format would be the thing to watch.