Trump admin updates: US military is preparing for possible activation of National Guard in DC

President Trump said on Friday he will be meeting with Russia's Vladimir Putin "very shortly."

"We are going to have a meeting with Russia. We'll start off with Russia and we'll announce a location. I think the location will be a very popular one for a lot of reasons. But we'll be announcing that a little bit later. I just don't want to do it now because of the importance of what we just did," Trump said as he hosted the leaders of the Republic of Armenia and the Republic of Azerbaijan at the White House.

Trump on Friday hosted the prime minister of the Republic of Armenia and the president of the Republic of Azerbaijan for a peace summit at the White House.

"It's a big, beautiful honor to welcome everyone to the White House for this very historic peace summit between Armenia and Azerbaijan. It's really a great thrill for me," Trump said at an event in the East Room.

Trump said the leaders signed documents in the Oval Office committing to stop fighting, open commerce and respect each other's sovereignty. The president said the U.S. was also signing a bilateral agreement with both countries to expand cooperation in energy, trade and technology, including AI.

"This declaration establishes what they are calling -- a great honor for me, I didn't ask for this -- the Trump Route for International Peace and Prosperity, which is a special transit area that will allow Azerbaijan to get full access to its territory of Nakhchivan while fully respecting Armenia's sovereignty. So they're going to be able to really live and work together," Trump said.

Both leaders expressed their belief that President Trump deserves the Nobel Peace Prize and would advocate for it, as several leaders have prompted, touting Trump's ego. The Prime Minister of Armenia jokingly mentioned that he hopes to receive an invitation, to which Trump responded that they would have a front-row seat.

“I'm not politicking for it,” Trump claimed when a reporter mentioned the date of the nominations.

-ABC News' Kelsey Walsh and Michelle Stoddart

President Trump is set to remove IRS Commissioner Billy Long, a former GOP congressman confirmed by the Senate earlier this summer, multiple sources familiar with the matter told ABC News.

Long confirmed the move in an X post Friday afternoon, revealing that Trump tapped him to be the ambassador to Iceland.

"I am thrilled to answer his call to service and deeply committed to advancing his bold agenda. Exciting times ahead!" he posted.

In an email Thursday with the subject line "It's Almost FriYay," Long encouraged staffers to leave work early on Friday. 

Treasury Secretary Scott Bessent is slated to lead the agency in an interim capacity, sources told ABC News. He would be the sixth leader of the tax-collecting agency in the first eight months of the Trump administration.

Long, a former GOP congressman and auctioneer, supported disbanding the agency as a member of Congress. The agency has been brought into the Trump administration's efforts to use government records and data to help identify and deport undocumented immigrants working and living in the country.

A spokesperson for the Treasury Department thanked Long for his services in a statement, adding that "a new candidate for Commissioner will be announced at the appropriate time."

The New York Times first reported on Trump's plans to replace Long.

-ABC News' Benjamin Siegel, Katherine Faulders and Olivia Rubin

President Trump welcomed the presidents of Azerbaijan and Armenia outside the West Wing on Friday afternoon.

"Very confident," Trump responded when asked if there would be a deal between the two nations.

-ABC News' Kelsey Walsh