Recent diplomatic signals have elevated the likelihood of a Trump-Putin-Xi trilateral encounter before 2027. In mid-October 2026, Russian President Vladimir Putin proposed a meeting with U.S. President Donald Trump and Chinese President Xi Jinping on the sidelines of the November 18-19 APEC summit in Shenzhen, China, initially framed around Ukraine negotiations but later adjusted toward denuclearization and trade discussions. Trump publicly stated openness to the format if Xi agrees, while Kremlin aide Yuri Ushakov confirmed on October 25 that preparations had begun and that all three capitals were in principle ready. These statements coincide with eased U.S. sanctions on Russian diesel exports and improved bilateral channels, reinforcing trader expectations that a high-profile appearance among the three leaders will occur at the upcoming multilateral gathering.