Kremlin spokesman Dmitry Peskov says Vladimir Putin met with U.S. envoy Steve Witkoff to discuss the American proposal for a cease-fire in the war with Ukraine.

Vladimir Putin said Ukraine must surrender after President Donald Trump urged the Russian leader to spare the lives of Ukrainian soldiers, following ceasefire talks between the U.S. and Russia in Moscow.

Russia’s stalling contrasted with Trump’s rush for a valuable breakthrough as his trade policies set off stock market slumps and cast a cloud over the economy. “I think we’re going to be in very good shape to get it done. We want to get it over with,” Trump said at the Oval Office on Thursday, in an outburst of optimism that jarred with reality.