Key Points

"We're done with the funding of the Ukraine war business. We want to bring about a peaceful settlement to this thing," Vance told Fox News's Maria Bartiromo on "Sunday Morning Futures," as reported by The Hill.

The Alaska summit aims to find a breakthrough in peace negotiations with Moscow, focusing on discussions around territorial control. Earlier this week, the Kremlin shared a ceasefire proposal with the Trump administration, offering control of Eastern Ukraine in exchange for a halt to hostilities.

Ukrainian President Volodymyr Zelensky has strongly opposed the deal, insisting that any agreement that excludes Ukraine undermines the prospect of peace. Though Zelensky was not invited to the summit, the White House and US Ambassador to NATO Matthew Whitaker have indicated the possibility of a trilateral summit.

European leaders have reacted strongly to the proposed agreement, promising to support Trump's efforts diplomatically, economically, and militarily, but stressed that any resolution must safeguard Ukraine's and Europe's vital security interests, according to The Hill.

During the interview, Vance highlighted American frustration with the continued financial burden of the conflict. "Americans, I think, are sick of continuing to send their money, their tax dollars of this particular conflict but if the Europeans want to step up and actually buy the weapons from American producers we're OK with that, but we're not going to fund it ourselves anymore," he said.

This is not the first time Vance has called on European allies to take on a larger role. Earlier this year, Trump secured agreements for NATO members to increase their defense spending to 5 percent of their GDP and arranged for the U.S. to send lethal weapons to Ukraine funded by other NATO countries, significantly expanding Europe's economic involvement in the conflict, The Hill noted.

Vance recently traveled to England to discuss these peace efforts, urging European nations to "step up and take a bigger role in this thing," adding, "if you care so much about this conflict you should be willing to play a more direct and a more substantial way in funding this war yourself," as reported by The Hill.

- ANI