Zelenskyy travels to Turkey, seeks fresh push to end Russia Ukraine war

President Volodymyr Zelenskyy is in Turkey on November 18, 2025 in a high stakes effort to advance talks that could bring an end to the war with Russia that began in February 2022. The trip follows a joint appearance in Paris with French President Emmanuel Macron on November 17, underscoring intensified Western diplomatic activity as battlefield dynamics and economic strains deepen.

The Ankara visit is being presented by Kyiv as a renewed bid to restart negotiations with Moscow through a third party that has maintained links to both capitals. Turkey, a NATO member that has brokered previous arrangements affecting maritime exports, has positioned itself as a potential mediator in an increasingly costly conflict. The stakes are not only military but economic. Ukraine remains a major supplier of grain and other commodities to global markets, and interruptions to Black Sea shipping have been a principal reason for volatility in world food prices since 2022.

For markets the immediate signals will matter. Investors have historically treated credible diplomatic progress as an easing of geopolitical risk, with potential downward pressure on commodity price spikes and upward pressure on risk assets. Conversely, stalled talks or public collapse of negotiations tend to boost safe haven demand. Oil and natural gas markets in Europe and Asia remain sensitive to any prospect of reduced Russian exports, while grain markets watch the security of Black Sea corridors that helped move millions of tonnes of Ukrainian produce after a 2022 arrangement.

Beyond short term market moves, the political outcome will influence fiscal planning across Europe. Governments that have been funding Ukraine and stepping up defense purchases face difficult budgetary trade offs. A durable ceasefire or negotiated settlement could shift spending priorities from emergency military support to reconstruction and economic recovery, but it could also create pressure to sustain aid until a comprehensive political settlement is in place. For Ukraine, the economic damage of nearly four years of war includes shattered infrastructure, displaced populations, and lost output, leaving reconstruction costs that commentators and institutions have described as requiring sustained multiyear financing from international partners.

Turkey’s role is shaped by its economic and security ties to both sides. Ankara has supplied drones to Kyiv while maintaining robust trade with Moscow, giving it leverage as a conduit for talks and proposals. Turkish mediation could focus on practical confidence building measures, such as secure corridors for exports and humanitarian access, which in turn would have measurable near term economic effects if implemented.

As Zelenskyy meets Turkish officials, markets and policymakers will watch closely for concrete deliverables rather than broad statements. The trip marks another stage in a diplomatic marathon that will determine not only the trajectory of the conflict but also the shape of global commodity flows, defense budgets, and reconstruction financing for years to come.