Ukraine President Zelensky says it won't agree to peace talks in Russia or Belarus

• Russia so far is not ready for an energy truce, and there is no answer from Russia on an energy truce.
• US is not threatening to pull back the security guarantees offer.
• Only possible to end war by Summer if US increases pressure on Russia.
• US needs to pressure Russia, not simply talk. 

President Zelensky's firm stance against peace talks in Russia or Belarus signals a prolonged conflict and indicates that the likelihood of an energy truce is diminishing. This geopolitical tension is likely to keep market focus on energy prices and could drive demand for safe-haven assets like gold, as investors seek refuge amid uncertainty. Additionally, the U.S. position to increase pressure on Russia suggests that any resolution might take longer and could impact broader market sentiment, especially in currencies and commodities.