US President Donald Trump will meet with Russian President Vladimir Putin to negotiate an end of the war in Ukraine on 15 August in Alaska, Trump said on Saturday.
Trump made the announcement on social media after he said that the parties, including Ukraine President Volodymyr Zelenskyy, were close to a ceasefire deal that could resolve the three-year conflict.
Addressing reporters at the White House overnight, Trump suggested an agreement would involve some exchange of land.
"There'll be some swapping of territories to the betterment of both," Trump said.
'A challenging process'
Russia subsequently confirmed the summit in an online statement.
The two leaders will "focus on discussing options for achieving a long-term peaceful resolution to the Ukrainian crisis," Putin aide Yuri Ushakov said.
"This will evidently be a challenging process, but we will engage in it actively and energetically," Ushakov said.
In his evening address to the nation on Friday, Zelenskyy said it was possible to achieve a ceasefire as long as adequate pressure was applied to Russia. He said he had held more than a dozen conversations with leaders of different countries and his team was in constant contact with the United States.
Putin claims four Ukrainian regions — Luhansk, Donetsk, Zaporizhzhia and Kherson — as well as the Black Sea peninsula of Crimea, which he annexed in 2014. His forces do not fully control all the territory in the four regions.
Ukraine has previously signalled a willingness to be flexible in the search for an end to a war that has ravaged its towns and cities and killed large numbers of its soldiers and citizens.
But accepting the loss of around a fifth of Ukraine's territory would be painful and politically challenging for Zelenskyy and his government.
The US and Russia were aiming to reach a deal to halt the war in Ukraine that would lock in Moscow's occupation of territory seized during its military invasion, Bloomberg News reported on Friday.
Under the putative deal, according to Bloomberg, Russia would halt its offensive in the Kherson and Zaporizhzhia regions along current battle lines.
Since his return to the White House in January, Trump has moved to mend relations with Russia and sought to end the war. In his public comments he has veered between admiration and sharp criticism of Putin.
In a sign of his growing frustration with Putin's refusal to halt Russia's military offensive, Trump had threatened to impose new sanctions and tariffs from Friday against Moscow and countries that buy its exports unless the Russian leader agreed to end the 3.5 year conflict, the deadliest in Europe since World War Two.
It was unclear if or when those sanctions would take effect.
The administration took a step toward punishing Moscow's oil customers on Wednesday, imposing an additional 25 per cent tariff on goods from India over its imports of Russian oil, marking the first financial penalty aimed at Russia in Trump's second term.
Trump's special envoy Steve Witkoff held three hours of talks with Putin in Moscow on Wednesday that both sides described as constructive.
