A 30-day ceasefire is necessary to initiate dialogue, but it won't be enough time for Russia to regroup, said Ukrainian President Volodymyr Zelenskyy at a press conference. According to him, this period is not sufficient for a full restoration of forces,

PARIS (Reuters) -French President Emmanuel Macron said on Tuesday he was in favour of imposing new sanctions on Russia in coming days if Moscow failed to agree to a ceasefire, mentioning financial services and oil and gas as possible targets.

Ukrainian President Volodymyr Zelenskyy comments mark the latest move in a weekend-long exchange of proposals from both sides on the next steps in the U.S.-led peace effort.

The announcement was made by leaders of Britain, France, Germany, Poland and Ukraine after a meeting in Kyiv, and a phone call with President Trump.

Three-day ceasefire in Ukraine that was unilaterally declared by Russian President Vladimir Putin last month was set to come into effect at 5 p.m. ET on Wednesday (midnight Moscow time), as Russia prepares to mark the anniversary of its World War II Victory Day on Friday.

Moscow had discussed reviving the gas pipeline in talks with President Trump on improving economic ties with Washington.