The United States will no longer finance the war in Ukraine and is determined to push for its swift conclusion, Vice President JD Vance said in a Fox News interview on Sunday.

Just days before a highly anticipated summit scheduled for 15 August in Alaska between US President Donald Trump and Russian President Vladimir Putin, Washington is working to explore a ceasefire and potential peace agreement. Trump has openly suggested the discussions may involve “some swapping of territory” — a proposal firmly rejected by Ukraine and its European allies.

“If Europeans want to take the lead and buy weapons from American manufacturers, we’re fine with that — but we won’t be funding it ourselves anymore,” Vance said.

Push for negotiations

Vance confirmed the US is working to coordinate talks between Trump, Putin, and Ukrainian President Volodymyr Zelenskyy, though he said a Putin–Zelenskyy meeting before the Trump–Putin summit would likely be unproductive.

“Of course, we condemn the invasion and dislike the current situation, but peace must be achieved — and the only way to do that is to sit down and talk,” he said.

He added that while Trump is skeptical about the chances of success, the President believes talks should be given a chance.

Based on current front lines

Vance emphasized that Washington seeks a settlement based on the existing line of contact, noting that “both sides will likely be unhappy” — a sign, he said, of a real compromise.

Trump has claimed Russia and Ukraine are close to a ceasefire that could end the three-and-a-half-year-old conflict, potentially requiring Ukraine to cede significant territory. Discussions on a possible territorial exchange are expected to continue in the coming days.

Zelenskyy, however, insists Ukraine cannot violate its constitution on territorial matters and that “Ukrainians will not gift their land to the occupiers.”

China sanctions under consideration

Vance also said Trump is considering sanctions against China for importing Russian oil but has not yet made a final decision.

A White House official confirmed that Trump is open to a three-way summit with Putin and Zelenskyy but is currently preparing for the bilateral meeting requested by Putin.