What happens if Putin refuses to end the war? Donald Trump isn’t saying. But the consequences will be “very serious.”

The warning came during a White House briefing this week, Sky News reports. When pressed by journalists for specifics, Trump declined to elaborate.

“I don’t need to say. There will be very serious consequences.”

Why the cryptic threat now? Trump and Putin are set to meet 15 August in Anchorage, Alaska. The stakes couldn’t be higher.

Trump expects this to be just the beginning. A second meeting could happen within days, he told reporters, possibly including Ukrainian President Volodymyr Zelenskyy.

“There’s a very high probability that we’ll have a second meeting that will be more productive than the first, because in the first one I’m going to find out where we are and what we’re doing.”

The president was blunt about his track record. When asked whether he believes he can persuade Putin to stop shelling Ukrainian civilians, Trump acknowledged failure. He’d raised the issue before “but it didn’t happen.”

Here’s what’s driving the Alaska talks: Washington and Moscow are pursuing an agreement that would let Russia keep occupied territories. The Wall Street Journal says Putin has already presented Trump’s team with a ceasefire proposal.

The price? Ukrainian territorial concessions.

Trump has suggested any peace deal would require “some territorial exchange for the benefit of both sides.” Russia demands: Ukraine withdraws troops from all of Donetsk, Luhansk, Kherson, and Zaporizhzhia oblasts, parts of which are not even occupied. 

Ukraine’s response was swift.

Zelenskyy declared Ukraine “will not give away its lands to anyone.” European Union leaders echoed that position, insisting Ukraine must shape any peace framework.

The timing matters. On 13 August, just two days before the Alaska meeting, Zelenskyy and European leaders arranged their own session with Trump. Their goal: coordinate positions before Trump sits down with Putin.

What emerges from Alaska could reshape the war’s trajectory. Putin arrives with territorial demands. Trump brings unspecified threats. Ukraine and Europe are scrambling to ensure their voices aren’t drowned out.

The consequences, as Trump says, could indeed be serious.