Morning Brief: August 29

• Trump called Zelensky's and Europe's territorial demands unrealistic. In private conversations, the US president expresses dissatisfaction with the negotiating position of Ukraine and the leaders of the EU countries. Europe is also unhappy with Trump's actions: European leaders are concerned that they still do not know anything about the contents of the closed-door talks between Trump and Putin in Alaska. For Europe, the agreements between the Russian Federation and the United States look like a «puzzle» that is difficult to put together due to the lack of details. 

• Bitcoin continues to decline, reaching around $110,000 amid expectations of US inflation data and forecasts of a possible Fed rate cut. The cryptocurrency fell in price by 1.8%, to $110,159. Earlier in the week, it fell below $109,000, which was a seven-week low, but then partially regained its position. Since the beginning of August, bitcoin has lost more than 10% of its peak value above $124,000 and is preparing to end the month with a 4% drop, which will be the first monthly decline since April.

• Moscow and Beijing are actively developing independent payment infrastructure to minimize Western influence in the financial and banking sector. Russia is promoting its own financial messaging system, while China uses CIPS, which many Russian banks have already joined. BRICS has also launched initiatives aimed at strengthening cooperation in this area.

• European leaders are discussing the creation of a 40-kilometer buffer zone on the front line between Russia and Ukraine as part of a peace agreement. It is unknown whether Ukraine will agree to this, as the idea implies territorial concessions on its part.