Putin and Stubb Discuss Whether Further Talks Are Needed

The substance here is the absence of substance: a call about whether to have another call, with no format, participants or outcome disclosed, is a signal about process rather than progress. For markets watching the war's diplomatic track, the relevant read is that channels between Moscow and European capitals are being tested without any commitment to a next step. Whether this contact produces a defined follow-up round, or remains a one-off exchange, is the open question worth tracking.