President-elect Donald Trump said late Thursday he is ready to meet with Russian President Vladimir Putin and that the meeting is currently being arranged, though he gave no timeline for when it might take place.

Trump has an opportunity to emulate President Ronald Reagan who won the Cold War by breaking the Russian economy. The Russian economy is a house of straw, one hard push and it will fall down. The country is vulnerable to economic crises. New sanctions or a drop in oil and natural gas prices could trigger a recession.

President-elect Trump said late Thursday that a meeting is in the works with Russian President Vladimir Putin to discuss ending the Kremlin's invasion of Ukraine. Why it matters: Trump said on the campaign trail that he would swiftly end the nearly three-year-old war in Ukraine within 24 hours of taking office.