Putin has said repeatedly that he is prepared to negotiate an end to the war, but that Ukraine would have to accept the reality of Russian territorial gains, which are currently about 20% of its land. He also refuses to allow Ukraine to join Nato.

President Donald Trump stepped up pressure on Russia to negotiate an end to the war in Ukraine, and threatened financial penalties on the country if it refuses to conclude fighting swiftly. In a Truth Social post on Wednesday,

President Trump has demanded Russia stop its “ridiculous war” with Ukraine or face stiffer penalties — but the U.S. doesn’t appear to have much financial leverage left after a raft of prior sanctions.