President Donald Trump's meeting with Russian leader Vladimir Putin is set for a military base in Alaska that was crucial to countering the Soviet Union during the height of Cold War and still plays a role today.

President Donald Trump is due to meet Friday in Alaska with Russian President Vladimir Putin. Crude-oil prices surged when Russia invaded Ukraine in 2022, and there is a potential for sizable moves depending on how Friday’s summit goes.

The president said he hopes Friday’s meeting will lead to a second sit-down that includes Ukraine’s Zelenskyy, even as he tried to temper expectations.