3 AM "Putin Conference", you must know these key information and hidden lines.

A meeting about "Peace + Economy"
At 3 a.m. Beijing time on Saturday, U.S. President Trump will meet with Russian President Putin in Alaska. The talks will mainly focus on the Russia-Ukraine conflict and prospects for peace.

This will be the first in-person meeting between the leaders of the U.S. and Russia in four years, and the first meeting between Trump and Putin since 2019, as well as Putin's first visit to U.S. territory in a decade. From a geopolitical perspective, this summit is unprecedented.

Trump stated that this is a "preliminary meeting" aimed at probing Putin's conditions and his sincerity in facilitating peace. Trump also warned on Wednesday that Putin must agree to a ceasefire, or he will face "serious consequences." He mentioned on Thursday that there is a 25% chance of failure for the meeting, describing it as "like playing international chess," and believes that Putin is willing to reach an agreement regarding the Russia-Ukraine conflict.
He also expressed to Ukrainian President Zelensky and several European leaders his hope that Putin would agree to a ceasefire, and preferably facilitate a follow-up meeting that includes Zelensky.

Putin praised the Trump administration's efforts to end the Russia-Ukraine conflict as "active and sincere" on the eve of the Alaska summit. He also hinted that Russia and the United States might reach an agreement on nuclear arms control at the summit.
The White House confirmed on Thursday that the two will hold a joint press conference in Alaska after the meeting.

What are the respective goals of both parties? The leaders of the U.S. and Russia come to the negotiating table with different priorities.

Putin hopes to gain international recognition to prove that the West's attempts to isolate Russia have failed. The holding of this summit itself is a form of recognition for Russia, and Putin also hopes to further consolidate Russia's occupation of territories in Ukraine. He insists on the withdrawal of Ukrainian troops from areas still under Ukrainian control, a demand that has been firmly rejected by Ukrainian President Zelensky.

The location of this summit in Alaska has multiple advantages for Russia. Alaska is only 90 kilometers away from the Russian mainland, allowing Putin to reach it without flying over "hostile countries." Moreover, Alaska is far from Ukraine and Europe, aligning with Russia's intention to bypass Kyiv and EU leaders and deal directly with the United States.
However, Putin may have other motives. The Russian economy is under pressure, with rising budget deficits and declining oil and gas export revenues. If economic issues force Putin to end the conflict, he may compromise. But for now, Russian officials continue to emphasize Russia's initiative on the battlefield.

Trump's situation is even more complicated. During the 2024 presidential campaign, he promised to resolve the Russia-Ukraine conflict easily, stating it could be solved within 24 hours. However, since his return to the White House in January, he has been inconsistent in his stance towards Ukraine and Russia.

He harshly criticized Zelensky in February and temporarily suspended military aid and intelligence sharing with Ukraine. In recent months, Trump has increased his criticism of Putin, repeatedly setting deadlines for implementing new sanctions against Russia and its business partners, but has failed to deliver each time.

This week, Trump attempted to lower expectations for the summit, stating that the meeting was merely "exploratory." However, he subsequently indicated that he believed both Zelensky and Putin wanted peace.

Nevertheless, Trump has always yearned to be the one who ends conflicts, stating in his inaugural speech that he hopes his greatest legacy will be the title of "peacemaker." On Thursday, he boasted in the Oval Office that he has successfully resolved many global conflicts since taking office, but acknowledged that the Russia-Ukraine conflict is the most difficult to resolve.