Russian President Vladimir Putin has said that the ongoing war with Ukraine is 'nearing its end' and expressed willingness to meet Ukrainian President Volodymyr Zelensky in a third country once a peace agreement is finalized. He made the remarks on Saturday after the Victory Day parade at Moscow’s Red Square, where he also pledged Russia’s victory in Ukraine despite a scaled-down celebration this year.

Putin’s comments came as Russia and Ukraine agreed to a three-day ceasefire and a prisoner exchange of 1,000 detainees each, following a request from U.S. President Donald Trump. Trump described the truce as a possible beginning of the end of the long and deadly conflict. Zelensky responded with a satirical statement allowing Russia to celebrate Victory Day and pausing Ukrainian attacks on Red Square, which the Kremlin dismissed as a 'bad joke.'

The war, ongoing for more than four years, has caused hundreds of thousands of deaths and massive destruction across Ukraine, while also damaging Russia’s $3 trillion economy. Currently, about one-fifth of Ukraine’s territory remains under Russian control.