Russian President Vladimir Putin on Friday made it clear that Russia will not compromise on its terms to end the war in Ukraine. Speaking at a marathon press conference, he also accused the European Union of attempting what he called “daylight robbery” of Russian assets.

“President Trump is making serious efforts to end this conflict. He is doing so with complete sincerity,” Putin said. “The ball is entirely in the court of our Western opponents, primarily the leaders of the Kyiv regime, and in this case, first and foremost, their European sponsors. We are ready for both negotiations and a peaceful resolution to the conflict.”

U.S. President Donald Trump has been pushing for a peace deal, but Ukraine and its European allies fear that the terms could favour Russia too heavily. Kyiv has called repeatedly for a ceasefire and questioned Putin’s sincerity. Putin sent tens of thousands of Russian troops into Ukraine in February 2022, and Kyiv believes Russia has not shown a true commitment to peace.

Putin’s annual press conference, which included a “Direct Line” phone-in, lasted nearly four and a half hours. Citizens from across Russia sent in questions, some of which appeared on a large screen. One participant joked, “Not a direct line but a circus.” Others complained about internet outages, dirty tap water, and the rising cost of living.

Despite these lighter moments, the dominant topic remained Ukraine. Putin reiterated that Russia’s terms for ending the war, set out in a June 2024 speech, remain unchanged. He demanded that Ukraine abandon its ambition to join NATO and withdraw entirely from four regions that Russia claims as its own. Kyiv, however, insists it will not cede land that Moscow’s forces have failed to capture in nearly four years of war.

A Ukrainian official confirmed that Ukraine struck a Russian “shadow fleet” oil tanker in the Mediterranean Sea with aerial drones on Friday. This marked the first time Kyiv targeted Russian oil shipping in this manner, reflecting the growing intensity of Ukraine’s attacks on Russian energy routes.

Putin described Ukrainian President Volodymyr Zelensky as “an illegitimate leader,” noting that his official mandate expired last year. Ukraine, under martial law, cannot hold new elections. Putin added, “If an election were held, Russia would be ready to consider a halt to strikes deep inside Ukraine while people voted. Five to ten million Ukrainians living in Russia should be allowed to take part.”

The Russian leader criticised the European Union after EU leaders abandoned a plan to use frozen Russian assets to back a loan to Ukraine. Instead, the EU will borrow funds to support Kyiv’s defence for the next two years. EU officials clarified that they reserved the right to use Russian assets to repay the loan if Moscow does not pay war reparations.

Putin said the EU backed away from the original plan because it would have faced serious consequences. He stated, “Theft is not the appropriate term… It’s daylight robbery. Why can’t this robbery be carried out? Because the consequences could be grave for the robbers.” He argued that the EU’s reputation as a safe place to store assets had been harmed by the initial plan.

Putin’s press conference delivered a clear message: Russia will not alter its demands for Ukraine, and Ukraine and Europe are responsible for the next steps. Despite peace efforts, including those led by President Trump, Russia insists on full recognition of its claims and strategic demands. The press event also highlighted domestic issues in Russia, such as infrastructure problems and high living costs, showing that the war’s impact extends beyond the battlefield. Putin’s uncompromising position suggests that any potential peace agreement will require careful negotiation to balance security, territorial disputes, and the interests of both Russia and Ukraine.