Vladimir Putin has said he agrees in principle to a 30-day ceasefire with Ukraine as Downing Street warned that if the war continued sanctions would “cripple” the Russian economy.
Prime Minister Sir Keir Starmer said a peace deal in Ukraine is needed to ensure the Russian president’s war does not maintain a “choke hold” on Europe.
Downing Street made clear the UK supported Donald Trump’s warnings of “very bad” financial consequences for Moscow if Mr Putin failed to co-operate with peace talks.
Talks between the US and Ukraine produced the idea of a 30-day truce, with the US president sending envoy Steve Witkoff to Moscow to discuss the plans with the Kremlin.
The Russian leader said “the idea itself is correct, and we certainly support it”, but at a press conference in Moscow he added that “there are issues that we need to discuss, and I think that we need to discuss it with our American colleagues and partners”.
Mr Putin and his allies have suggested Ukraine wants the ceasefire to allow its forces to regroup and rearm at a time when they are on the back foot and being forced out of the Kursk region after their incursion into Russian territory.
Sir Keir stressed the need for a lasting peace which would deter Mr Putin from attempting to conquer his neighbour again.
He said: “I profoundly believe that if we don’t secure a just peace and a lasting peace, then that insecurity, which we’ve already felt, will continue.
“And that means, here, higher prices, higher bills, the cost-of-living crisis going on for even longer – if you like, a choke hold on our future, which will be much, much harder for us to tackle.
“We know some basics: Putin’s appetite for conflict and for chaos is already there, and it will only grow.
“And Russia is already menacing our skies, our waters, our streets and our national security.”
He said any peace deal would have to allow Ukraine to be “sovereign and secure”.
Sir Keir defended his decision to offer British troops to a peacekeeping force to secure an agreement.
He said: “There have been settlements in Ukraine before which had not been backed up. Nobody’s defended the deal, and Putin has just crossed the line again when he wants to.
“That is not good for Ukraine. It’s not good for Europe and it’s not good for us.”
The Ukrainian delegation provided me with a detailed report on its meeting with US representatives in Saudi Arabia, including the progress of negotiations and key aspects.
— Volodymyr Zelenskyy / Володимир Зеленський (@ZelenskyyUa) March 13, 2025
It is good that the conversation was entirely constructive. Ukraine is committed to moving quickly toward… pic.twitter.com/5chfbyUvjB
Mr Trump has signalled a threat of further sanctions on Moscow in a push for a deal, saying he could “do things financially” that would be “very bad for Russia”.
Asked whether the UK would ramp up sanctions if the Kremlin rejected the proposal, Downing Street said “ongoing US, UK and European pressure” would cripple Mr Putin’s income streams.
“President Trump’s leadership to suffocate Russia’s economy is welcome,” a Number 10 spokesman said.
“President Putin’s barbaric war in Ukraine and ongoing aggression across the world has impacted hard-working people globally. That includes in the US.
“Since Putin launched his invasion, we’ve seen prices at the pump increase and the cost of heating homes soar, and that’s why, through ongoing US, UK and European pressure, we’re ensuring that Putin faces further financial pain, crippling his income streams and strangling the finance flows to his war chest.”
Ukraine’s President Volodymyr Zelensky said: “We hope that US pressure will be sufficient to compel Russia to end the war.”
