**Ongoing US-Russia diplomatic engagement has not produced confirmed plans for a Putin visit to US territory by the end of 2026.** Recent phone calls between Presidents Trump and Putin have focused on energy cooperation, including a diesel supply agreement, and Ukraine peace talks, yet Kremlin statements describe any December G20 attendance in Miami as premature with no decision reached. Russia continues military operations in Ukraine, creating structural barriers to high-level bilateral visits on US soil. Past summits, such as the 2025 Alaska meeting, occurred under specific conditions that have not repeated. Traders assign a 90% probability to “No” because formal invitations remain unaccepted, multilateral events lack confirmation, and core geopolitical frictions persist without resolution.