Here is where things stand on Tuesday, May 20:

Fighting

• With peace talks on the horizon, Russia currently controls about one-fifth of Ukrainian territory. Russian President Vladimir Putin is expected to ask for Ukrainian forces to retreat from four regions of Ukraine during peace talks.
• Ukrainian President Volodymyr Zelenskyy ruled out withdrawing troops from parts of eastern and southern Ukraine currently under Kyiv’s control in an interview with The Kyiv Independent.
• Russia’s Ministry of Defence said on Telegram it seized the village of Marine, in Ukraine’s northern Sumy region, and Novoolenivka village in the eastern Donetsk region. Ukraine did not immediately comment on the claims.

Ceasefire talks

• United States President Donald Trump said Moscow and Kyiv “will immediately start negotiations towards a ceasefire and an end to their war” following a phone call with Putin that lasted for more than two and a half hours on Monday night.
• Following the call, Putin told reporters that Russia is “ready to work with the Ukrainian side on a memorandum on a possible future peace accord, defining a number of positions, such as, for example, the principles of settlement, [and] the timing of a possible peace agreement”.
• Putin repeated his oft-spoken point that any ceasefire would need to also address the “root causes of the crisis”, a reference to Ukraine’s potential entry into NATO.
• Zelenskyy said in a statement that Ukraine remains committed to peace talks, but Russia needs to also demonstrate its readiness to engage in meaningful dialogue. He also said the US is needed, saying: “It is crucial for all of us that the United States does not distance itself from the talks and the pursuit of peace, because the only one who benefits from that is Putin.”
• Moscow and Kyiv are also in talks about a major prisoner exchange, following a phone call on Monday, according to Zelenskyy.
• German Chancellor Friedrich Merz said European Union leaders told Trump they are ready to put more pressure and sanctions on Moscow. “Europe will increase the pressure on Moscow through sanctions. This is what we agreed upon with @POTUS after his conversation with Putin,” Merz said on X.
• Germany has joined Denmark in calling on China to exert its influence on Russia over the war in Ukraine.
• Pope Leo XIV is interested in hosting talks between Russia and Ukraine, Trump said, a suggestion that was welcomed by US and European leaders, including Italian Prime Minister Giorgia Meloni, who said Italy is “ready to do its part to facilitate contacts and work for peace”. The Vatican did not confirm any such offer by the pope.

Economy

• Finland’s Ministry of Defence said it will use about 90 million euros ($101.35m) in proceeds from frozen Russian assets to buy ammunition for Ukraine. About $300bn of Russian assets have been frozen across the EU since the Russian invasion of Ukraine in 2022.
• The EU is expected to lower the current $60 per barrel price cap on Russian oil as far as $50 per barrel as part of its new sanctions package this week, the Reuters news agency reported, citing EU officials.
• Poland seized 5 million metric tonnes of tyres for civilian Boeing aircraft bound for Russia in violation of international sanctions.