Putin: Russia 'ready to work' with Ukraine on 'memorandum of understanding' for 'possible peace agreement'

Russian President Vladimir Putin said Monday that Moscow is ready to work with Kyiv on a "memorandum of understanding" regarding a "possible peace agreement" between the two countries, more than three years after the Kremlin's forces began their invasion of Ukraine.

Putin said, following a phone call with his US counterpart, Donald Trump, that talks with Ukraine are moving "in the right direction" following direct talks held Friday in Istanbul, the first between Ukrainians and Russians since the spring of 2022.

Putin told reporters that "Russia will propose a memorandum of understanding and is ready to work with the Ukrainian side on a possible peace agreement."

He explained that the document would define "the foundations of a settlement, the timing of a possible peace agreement, and other matters, including a ceasefire for a certain period if appropriate agreements are reached."

Putin did not provide any further details about the "memorandum."

Ukraine and its Western allies have consistently demanded a ceasefire from Russia, which Moscow has so far refused.

Putin confirmed that contacts "between the participants in this meeting (Istanbul) and the talks have resumed, which suggests we are on the right track." He added that Moscow and Kyiv must make "maximum" efforts to reach "a settlement that satisfies all parties."

Putin described the phone conversation with Trump as "very useful."

In response, Trump said after the call that Russia and Ukraine would "immediately begin" talks on a ceasefire.