Trump says he'll meet Putin in Alaska next Friday

• Trump made the announcement Friday evening on Truth Social.
• Ukrainian and European officials are nervous that Putin will seek Trump's approval for peace terms that they find unacceptable, and put the onus back on Ukraine to make peace.
• Trump's ceasefire-or-sanctions deadline for Putin expired on Friday, but those penalties appear to be on hold for now.

Behind the scenes: During his meeting with Trump's envoy Steve Witkoff on Wednesday, Putin raised the possibility of a peace deal that locks in Russia's wartime gains.

• Specifically, Russia would claim two territories of Ukraine (Donetsk and Luhansk) outright, and freeze its current positions in two more (Zaporizhia and Kherson).
• Ukrainian officials have dismissed similar ideas in the past. They also have demands of their own, including around security guarantees to ensure Russia can't simply restart the war.

Between the lines: Even if Putin comes to the meeting with Trump with genuine proposals, the parties to the conflict remain a long way apart.

• Meanwhile, senior officials from the U.S., Ukraine and several European countries will meet on Saturday in the U.K. to try and reach a common position ahead of the planned meeting between Trump and Putin, three sources with knowledge of the meeting said.

Go deeper: U.S., Ukraine and European allies plan to huddle in U.K. ahead of Trump-Putin summit