Russia's President Vladimir Putin, while maintaining a strong posture openly, has been signalling via backchannels that he is open to a cease-fire after a near-two-year-long war with Ukraine.
Putin has indicated that he is satisfied with the Ukraine territory captured by Russia and therefore ready for an armistice, reported the New York Times on Dec 23, citing former and current Russian, American and international officials who received the message from Putin's envoys.
However, some American officials wonder if this message is an attempt by Russia at "misdirection" which will change once Russian forces gain momentum in a war that has been showing signs of a stalemate.
“He really is willing to stop at the current positions,” one of the former senior Russian officials told The New York Times. However, "he’s not willing to retreat one metre," the former official added. Russia now occupies around 20% of Ukraine's land.
“Conceptually, these theses you presented, they are incorrect," says Putin's spokesman Dmitri S Peskov in response to the New York Times.
Russia's goals have not changed, adds Peskov when asked if the country is ready for a cease-fire at the current battle lines.
See also: Caught in the coffee crossfire
“Putin is, indeed, ready for talks, and he has said so,” says Peskov. “Russia continues to be ready, but exclusively for the achievement of its own goals.”
According to the New York Times, the ideal cease-fire timing - if it happens - would be before Russia’s presidential election in March.
While Putin is certain to secure another six-year term, his winning share is important as a gauge of his domestic support.
See also: Russia hires its own Africa army to succeed Wagner's mercenaries
On the other hand, Ukraine has been rallying support for its own peace formula, which requires Moscow to surrender all captured Ukrainian territory and pay damages.
President Volodymyr Zelensky said Tuesday that he saw no sign that Russia wanted to negotiate.
Russia's invasion of Ukraine sent the global commodities markets into a tizzy, adding further fuel to inflationary pressures which are only showing signs of tapering in recent months after central banks across the world jacked up interest rates for the better part of 2023.
