MOSCOW, December 23. /TASS/. Russia and the US are likely to continue dialogue on Ukraine in 2026; the Middle East is facing risks of a new escalation; and the EU is seeking ways to retreat after a failed summit. These stories topped Tuesday’s newspaper headlines across Russia.

 

Media: Analysts weigh in on prospects for Russia-US dialogue in 2026

The recent Russia-US talks in Miami cannot be seen as a breakthrough, Kremlin Spokesman Dmitry Peskov told Izvestia. According to him, Moscow found it crucial to obtain information from the Americans about their consultations with the Europeans and Ukrainians. Experts believe that the US administration is interested in continuing dialogue with Russia on Ukraine next year.

"I think the negotiation process is progressing steadily and ‘on schedule,’ so certain breakthroughs can be expected on some legal provisions of a peace treaty," said Ilya Shcherbakov from Moscow State University’s Department of International Relations and Integration Processes.

"I believe this kind of shuttle diplomacy is likely to continue. This time, the US apparently received some updated data on Russia’s positions. A cycle of consultations with Ukraine and Washington's European partners will come next, followed by another round of Russia-US dialogue. It will continue like that until just a few issues remain that may be discussed and even resolved through bilateral Russia-Ukraine talks," Valdai Club expert Andrey Kortunov pointed out.

The parties are currently engaged in discussions over the details and aspects of a peace plan, Igor Semenovsky, associate professor with the Department of International and Public Law at the Financial University under the Government of the Russian Federation, told Vedomosti.

According to the expert, focused efforts are underway to formulate the terms of future agreements. However, it’s clearly a long way to go before a consensus is reached. The analyst notes that even though Europe is no longer presenting Russia with ultimatums, it still pursues the goal of "using the Ukrainian territory for military purposes against Russia" through its proxy.

 

Media: Middle East faces threat of new escalation

Israel suspects Tehran of preparing attacks on the Jewish state. Its concerns stem from the large-scale military exercise that Iran is conducting. Experts interviewed by Izvestia believe that although the recent 12-day war left Iran weaker, the likelihood that military operations will resume is not zero.

Denis Denisov, an expert at the Financial University under the Government of the Russian Federation, notes that Iran is currently busy restoring its army and military capacity. According to the expert, the country seeks to feel more secure because there is no guarantee that Israel, backed by the US, will not carry out further attacks.

Russian International Affairs Council expert Anton Mardasov points out that the risk of a new escalation persists, and it will rise if Washington and Tehran fail to reach a consensus through talks, primarily on Iran’s nuclear program.

Meanwhile, Ilya Vaskin, researcher at the Higher School of Economics, told Vedomosti that never in the history of the Iran-Israel confrontation had Tehran been the first to attack the Jewish state, but had always reacted to Israel’s hostile actions.

Iran is not ready to launch military operations against Israel at this point as it is working to rebuild its air defenses and armed forces following the recent Israeli attack, Yury Lyamin, senior researcher with the Center for Analysis of Strategies and Technologies, observed. However, the threat of another round of regional tensions remains elevated. On the one hand, the Israeli leadership may still be tempted to conduct a more powerful strike on Iran because it overestimated the impact of its previous attacks and underestimated the Iranians' resilience. On the other hand, if Tehran finds evidence of Israel's military operations, it can theoretically carry out a preemptive strike on Israeli military facilities.

 

Izvestia: EU in search of escape routes after summit failure

Europe seeks to maneuver after its idea of using Russia’s frozen assets for a "reparations" loan for Ukraine fell through. French President Emmanuel Macron has called on the Europeans to launch a dialogue with Russian leader Vladimir Putin. Meanwhile, the European Union remains the key sponsor of the Ukraine conflict, Izvestia writes.

While Russia and the US are trying to finalize a peace plan to resolve the situation in Ukraine, Europe keeps rushing from one strategy to another. The recent EU summit was only able to agree on a 90-billion-euro loan for Ukraine from its budget, which will not involve Hungary, Slovakia, and the Czech Republic. "All these compromises pointed to a fundamental contradiction, making it clear that none of the European mechanisms can operate without the consent of all 27 member states. This signals a deeper crisis, as the EU is no longer capable of developing a common position on strategic issues," Maria Frolova, researcher with the Center for Comprehensive European and International Studies at the Higher School of Economics, observed.

In such a situation, Macron apparently decided to restore the reputation of Europe’s chief mediator, highlighting the need to resume talks with the Russian leader. By making such statements, the EU is maneuvering to find escape routes, said Konstantin Kosachev, deputy speaker of Russia’s Federation Council (upper house of parliament). "The European Union will have to answer to its citizens not only for financial expenses, but also for political costs. Hence the idea of additional political communication," he elaborated.

Still, EU countries’ role in resolving the crisis has not changed much, Yegor Sergeyev, researcher with the Institute for International Studies at Moscow State Institute of International Relations, noted. "One of their goals is to prevent an end to the conflict because it would be seen as a serious defeat for Ukraine. It would also be a major image loss for the EU, which is clear from what ‘mid-level’ politicians are saying, as they don’t hide that the EU’s international sway and reputation depend on the outcome of the conflict. The EU’s tactical goal is to assert itself more actively so as not to become an outsider in the negotiation process," the political scientist explained.

 

Izvestia: US partially lifts sanctions on some Russian banks

The US has partially lifted sanctions on Russian banks, among which are Gazprombank, Sber, VTB, and Alfa-Bank. Washington now allows transactions with the banks in the field of civilian nuclear energy. However, it’s too early to talk about political and economic improvement, said experts interviewed by Izvestia.

The United States depends on Russian supplies of enriched uranium and isotopes for healthcare and industry, so the temporary permission for transactions involving Russian banks is a sign of pragmatism and proof of more flexible sanctions pressure, Anna Fedyunina, associate professor at the Higher School of Economics' Department of Economic Sciences, pointed out.

Another reason behind the US move to lift restrictions has to do with geopolitics, Inna Litvinenko, associate professor with the Department of Economics and Management at the Russian State University of Social Technologies, noted. It stems from Washington's desire to intensify efforts to find a peaceful solution to the Ukraine conflict. "The US can see that Russia is serious about settling the issue, so it is signaling its readiness to build and strengthen long-term ties with Moscow," the analyst remarked.

Meanwhile, political scientist Ilona Mizova believes that the partial lifting of sanctions should not be seen as a political concession or Russia’s strategic win. She believes that the easing of restrictions is nothing but a technical measure needed to ensure US energy security.

Still, Litvinenko does not rule out that such dynamics could mark a further thawing in relations between Russia and the US not only at the level of the two countries' presidents and administrations, but also at the level of companies. Other exemptions may follow the nuclear energy field, Fedyunina agreed. The US decision demonstrates that complete economic isolation is a highly complicated tool, which can have counterproductive effects on those who use it, Mizova concluded.

 

Kommersant: Precious metal prices continue rising

Gold’s price on the spot market has for the first time ever exceeded the $4,400 per-troy-ounce level, rising by over 5% since the beginning of the month. Other precious metals also went up by 22-24% during the same period, with silver prices hitting a new all-time high. The main reasons behind the price growth remain the same, including geopolitical tensions, particularly amplified by the EU’s attempt to seize Russia’s frozen assets, and global regulators’ efforts to ease monetary policy, Kommersant reported.

Although participants at last week’s EU summit did not agree to confiscate Russian assets to fund Ukraine, an indefinite asset freeze does not rule out new seizure attempts later. Lyudmila Rokotyanskaya, stock market expert at BCS World of Investment, believes that such concerns may prompt central banks to purchase more gold. "Regulators have come to see gold as a tool for sovereign financial protection, especially amid external tariffs and potential sanctions," Alyona Nikolayeva, portfolio manager at Astero Falcon, added.

Fiscal and debt risks also continue to push prices higher. "High burdens on the budgets of developed countries, deficit growth, and political uncertainty are increasing interest in assets not related to the obligations of individual countries. Under such circumstances, investors increasingly tend to see gold as an instrument of long-term capital preservation," Ruslan Klyshko, director of the wealth management department at AF Capital, pointed out.

Gold’s price is set to maintain its growth potential until the end of the year, but market participants are more cautious about prospects for 2026. Much will depend on the global geopolitical situation. "If the parties to the Russia-Ukraine conflict eventually come to an agreement, it could reduce the geopolitical aspect that adds to gold’s price," Rokotyanskaya noted.

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