Vladimir Putin has stated that Ukraine must withdraw its troops from territories Russia claims to have annexed before any ceasefire can begin—a proposal Ukrainian President Volodymyr Zelensky compared to a "Hitler-like ultimatum."

Zelensky has consistently asserted that Ukraine will not engage in negotiations with Moscow until Russian forces vacate all Ukrainian territory, including Crimea. Additionally, Putin insists that Ukraine must abandon its aspirations to join NATO before peace talks can commence.

Putin's conditions for a ceasefire come ahead of a summit in Switzerland on Saturday, where leaders from 90 countries will discuss paths toward peace in Ukraine—a summit to which Russia has not been invited.

In a meeting with Russian ambassadors in Moscow on Friday, Putin called for the Ukrainian government to withdraw from four partially occupied regions: Donetsk, Luhansk, Kherson, and Zaporizhzhia. He further demanded that Ukraine officially renounce its efforts to join NATO to halt the Russian advance. Putin stated, "As soon as Kyiv declares that it is ready for such a decision... an order to cease fire and begin negotiations will immediately follow from our side, literally at the same minute."

Ukrainian presidential adviser Mykhailo Podolyak condemned the proposal as a "complete sham" and "offensive to common sense." Later on Friday, President Zelensky told Italy's Sky TG24, "These messages are ultimatum messages. It's the same thing Hitler did, when he said 'give me a part of Czechoslovakia and it'll end here.'"

Mr Putin wants Ukrainian troops withdrawn from regions annexed by Russia

US Defense Secretary Lloyd Austin also dismissed the Russian demands, stating, "Putin has illegally occupied sovereign Ukrainian territory. He is not in any position to dictate to Ukraine what they must do to bring about a peace." Similarly, NATO Secretary-General Jens Stoltenberg described Putin's proposal as "not made in good faith."

Russia analyst Tatiana Stanovaya interpreted Putin's plan as a set of "maximalist" demands offering no concessions, aimed at undermining the peace conference before it even begins.

President Zelensky is expected to attend the summit near Lake Lucerne, where he aims to demonstrate continued broad international support. The Swiss government has stated that the summit's goal is "to provide a forum where world leaders discuss paths towards a just and lasting peace in Ukraine, based on international law and the UN Charter."

Notable attendees will include US Vice-President Kamala Harris, French President Emmanuel Macron, German Chancellor Olaf Scholz, Italian Prime Minister Giorgia Meloni, and European Commission President Ursula von der Leyen. Russia was not invited, and China has declared it will not attend in Russia's absence.

The peace summit follows an agreement by G7 leaders to use interest from frozen Russian assets to help Ukraine in its fight against Russian forces. Approximately $325 billion in assets were frozen by G7 countries and the EU following Russia's invasion of Ukraine in February 2022. This pot of assets generates about $3 billion annually in interest. Under the G7 plan, this $3 billion will be used to pay off the annual interest on a $50 billion loan for Ukraine, which will be taken out on international markets. The funds are expected to arrive by the end of the year and are seen as a longer-term solution to support Ukraine's war effort and economy.

On the sidelines of the G7 summit, the US and Ukraine also signed a 10-year bilateral security deal, hailed by Kyiv as "historic."