As ever, there is confusion and key questions are left unanswered, but Donald Trump’s announcement on Ukraine and Russia today remains hugely significant.
His shift in tone and policy on Ukraine is stark. And his shift in tone (and perhaps policy) on Russia is huge.
Ever since Mr Trump returned to the White House he has flatly refused to side with Ukraine over the Russian invasion.
He has blamed Ukraine and Joe Biden for the incursion but has never been willing to accept that Russia is the aggressor and that Kyiv has a legitimate right to defend itself.
Today, all that changed. In a clear signal that he is fed up with Vladimir Putin and now fully recognises the need to help Ukraine defend itself, he announced the US will dramatically increase weapons supplies to Kyiv.
But, in keeping with his transactional nature and in a reflection of the need to keep his isolationist “America-First” base on side, he has framed this policy shift as a multi-billion dollar “deal” in which America gains financially.
American weapons are to be “sold” to NATO partners in Europe who will then either transfer them to Ukraine or use them to bolster their own stockpiles as they transfer their own existing stocks to Kyiv.
“We’ve made a deal today,” the president said in the Oval Office. “We are going to be sending them weapons, and they are paying for them. We are manufacturing, they are going to be paying for it. Our meeting last month was very successful… these are wealthy nations.”
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This appears to be a clever framing of the “deal”. Firstly, America has always benefited financially by supplying weapons to Ukraine because much of the investment has been in American factories, American jobs and American supply chains.
While the details are not entirely clear, the difference now appears to be that the weapons would be bought by the Europeans or by NATO as an alliance.
The Americans are the biggest contributor to NATO, and so if the alliance is buying the weapons, America too will be paying, in part, for the weapons it is selling.
However, if the weapons are being bought by individual NATO members to replenish their own stocks, then it may be the case that the US is not paying.
NATO officials referred all questions on this issue to the White House, which has not yet provided clarity to Sky News.
It is also not yet clear what type of weapons will be made available and whether it will include offensive, as well defensive, munitions.
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A key element of the package will likely be Patriot missile batteries, 10 to 15 of which are believed to be currently in Europe.
Under this deal, it is understood that some of them will be added to the six or so batteries believed to be presently in Ukraine. New ones would then be purchased from US manufacturers to backfill European stocks. A similar arrangement may be used for other weapons.
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The president also issued the Russian leader with an ultimatum, saying that Putin had 50 days to make a peace deal or else face 100% “secondary tariffs”. It’s thought this refers to a plan to tariff, or sanction, third countries that supply Russia with weapons and buy Russian oil.
This, the Americans hope, will force those countries to apply pressure on Russia.
But the 50-day kicking of the can down the road also gives Russia space to prevaricate. So, a few words of caution: first, the Russians are masters of prevarication. Second, Trump tends to let deadlines slip. And third, we all know Trump can flip-flop on his position repeatedly.
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Maybe the most revealing aspect of all this came when a reporter asked Mr Trump: “How far are you willing to go if Putin sends more bombs in the coming days?”
“Don’t ask me questions like that…”
Mr Trump doesn’t really know what to do if Mr Putin continues to take him for a ride.
Mr Biden, before him, supplied Ukraine with the weapons to continue fighting.
If Mr Trump wants to end this, he may need to provide Ukraine with enough weapons to win.
But that would prolong, or even escalate, a war he wants to end now.
There’s the predicament.
