Trump’s apparent openness to increasing pressure on Russian President Vladimir Putin to end his war against Ukraine, and his need for help from allies to stabilize a framework ceasefire agreement with Iran. The contours of a deal in which Trump backs Europe on Ukraine in exchange for European help securing the Strait of Hormuz — the major waterway whose closure during the war with Iran sent energy prices skyrocketing — appear to be taking shape.

“The discussions we’ve had among ourselves and with the U.S. president — both in official meetings and in informal encounters on the sidelines — give me a certain sense of optimism,” German Chancellor Friedrich Merz told journalists on Tuesday.

While diplomats cautioned against being too optimistic, pointing out that Trump has previously reversed himself after making pro-Ukraine statements, they also echoed the German leader’s assessment of transatlantic relations despite Trump’s individual spats with many of the G7 leaders.

The sense of relief was palpable among the five diplomats and officials who spoke to POLITICO, all of whom were granted anonymity to candidly discuss closed-door discussions.

A day earlier, Trump had triggered a wave of anxiety by suggesting that the pact between Washington and Tehran would allow him to refocus his attention on a peace deal between Russia and Ukraine.

Concern that the U.S. president could unwind months of efforts by Ukraine’s allies to ramp up pressure on Moscow added to bad blood over the Iran war — which had widely criticized by EU leaders, including Merz — as well as individual spats with U.K. Prime Minister Keir Starmer and French President Emmanuel Macron.

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