Vladimir Putin
In this pool photograph distributed by the Russian state agency Sputnik, Russia's President Vladimir Putin gestures as he addresses the press after attending a meeting of the Collective Security Treaty Organization (CSTO) on November 28, 2024. RAMIL SITDIKOV/POOL/AFP via Getty Images

Russian President Vladimir Putin said he's ready to negotiate an agreement with President-elect Donald Trump to end the war in Ukraine.

"We have always said that we are ready for negotiations and compromises," Putin said. "Soon, those Ukrainians who want to fight will run out, in my opinion, soon there will be no one left who wants to fight. We are ready, but the other side needs to be ready for both negotiations and compromises."

Putin made the announcement on state television, Reuters reported.

He also said Moscow is open to compromise but any agreement must involve Ukraine's official authorities, not just Donald Trump, who famously said on his presidential campaign trail that he could end the war in 24 hours.

Putin said he would consider a ceasefire deal, but he ruled out major territorial concessions and demanded Ukraine abandon its NATO aspirations, essentially repeating the same commentary he said in November.

According to Reuters, talks between Putin and Trump could build on an earlier drafted agreement viewed by some Ukrainians as a concession.

In the past, Ukrainian president Volodymyr Zelenskyy has said that it would be "suicidal" for the European Union to give Russia a concession.

Russia continues to advance in key regions in the Ukraine while controlling 20% of the country, said Reuters.

Putin's hypersonic ICBM missiles have caused many deaths and the war has caused the displacement of over 71 million people, and strained relations between Russia and the United States.