Russia is open to discussing a temporary ceasefire in Ukraine, provided there is clear progress towards a lasting peace agreement, according to a report by Bloomberg. This marks the first indication of a positive response from President Vladimir Putin to US counterpart Donald Trump’s call for a ceasefire. 

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As per Bloomberg, the proposal was reportedly conveyed during talks between Russian and American officials in Saudi Arabia last month.

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For Russia to agree to a ceasefire agreement, key principles of a final peace settlement must be established, according to the report. Another source told Bloomberg that Moscow would particularly insist on defining the parameters of any future peacekeeping mission, including which nations would be involved.

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This report comes hours after US President Donald Trump warned of large-scale sanctions and tariffs on Russia until a ceasefire and peace agreement is reached with Ukraine.

"Based on the fact that Russia is absolutely “pounding” Ukraine on the battlefield right now, I am strongly considering large scale Banking Sanctions, Sanctions, and Tariffs on Russia until a Cease Fire and FINAL SETTLEMENT AGREEMENT ON PEACE IS REACHED. To Russia and Ukraine, get to the table right now, before it is too late. Thank you!!!" he wrote.

These developments come as the US and Ukraine prepare to hold their first direct talks since Ukrainian President Volodymyr Zelensky's meeting with Trump at the White House last week. US special envoy Steve Witkoff said that the upcoming meeting in Saudi Arabia aims to establish “a framework for a peace agreement and an initial ceasefire.”

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Kremlin has not commented on the reports, with spokesman Dmitry Peskov declining to respond to requests for confirmation.

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Russia has made it clear that it will not accept NATO troops on Ukrainian soil, rejecting a European proposal to form a “coalition of the willing” to oversee any peace agreement. However, Moscow does not oppose the deployment of forces from neutral countries such as China, according to the Bloomberg report.

Since taking office on 20 January, Trump has shifted US policy on the war, seeking to bring a rapid resolution to what has become Europe’s most significant conflict in 80 years.

Last month, he held phone talks with Putin, during which they agreed to a future summit, though no date has been set. Trump has also dropped US backing for Ukraine’s potential NATO membership, with senior officials stating that regaining all Ukrainian territory lost to Russia since 2014 is now seen as unrealistic.

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Following his heated exchange with Zelenskiy in Washington, Trump paused military aid to Ukraine and suspended certain intelligence-sharing arrangements with Kyiv. 

(With inputs from agencies)