The meeting represents a victory for Russian President Vladimir Putin, who seeks to end international isolation and separate Russian ties with the U.S. from the fate of Ukraine.

On a four-week average basis, the export price of Russia’s Urals from both the Baltic and the Black Sea was down by $0.50 a barrel, averaging about $58.80 a barrel and $59 a barrel respectively, while Pacific ESPO was down by about $0.40 a barrel to $65.01 a barrel.

The threats, pressure and ultimatums have come and gone, but Russian President Vladimir Putin has maintained Moscow’s uncompromising demands in Ukraine, raising fears he could use a planned summit with U.