“YOU DON’T HAVE THE CARDS,” Donald Trump famously told Volodymyr Zelensky during their acrimonious February 2025 meeting in the Oval Office. As Trump continues his stumbling bid to broker peace between Russia and Ukraine, perhaps it is time for him to reexamine the cards in his own hand. He now holds a weaker hand with Zelensky than a year ago, but he has not played the very substantial cards he has with Vladimir Putin. And unless he chooses to play those cards, his mediation effort will continue to fail.

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