Russia-Ukraine war update: US President Donald Trump said he is hopeful that Russia and Ukraine will sign a peace agreement this week, which could put an end to the long conflict between the two countries. Taking to his media platform, Truth Social, Trump stated that both nations would be economically helped by such an agreement and forge good trade relationships with the United States.

Taking to his media platform Truth Social, Trump said that once the two nations reach an agreement, both would be able to "make a fortune" by doing business with US.

"HOPEFULLY RUSSIA AND UKRAINE WILL MAKE A DEAL THIS WEEK. BOTH WILL THEN START TO DO BIG BUSINESS WITH THE UNITED STATES OF AMERICA, WHICH IS THRIVING, AND MAKE A FORTUNE," Trump wrote.

US Signals Readiness To Recognise Crimea Under Russian Control

US is willing to recognise Russian dominance in Crimea under the terms of a possible peace initiative. The plan disclosed to Ukrainian and European representatives in Paris also includes provisions for an immediate ceasefire. A source close to the situation said to CNN that while some of the key aspects of the plan have been outlined, more details must be discussed. The follow-up talks with the US, Ukraine, and European allies are due next week in London.

Russia annexed Crimea in 2014 after a military intervention—a move largely criticized as illegal by the international community. The annexation strongly heightened tensions between Moscow and Kyiv, laying the groundwork for the war in 2022.

Trump Issues Warning But Remains Optimistic

In being optimistic, Trump also warned that the US could reassess its position in brokering the peace process if either side is hard to deal with in negotiations.

“If, for some reason, one of the two parties makes it very difficult, we’re just going to say, ‘You’re foolish, you’re foolish. You’re horrible people,’ and we’re just going to take a pass,” Trump said. Unheeding of the warning, he ended on an optimistic note but with caution, “I think we have a really good chance of getting it done. It’s coming to a head right now.”

Also read: US May Recognise Russian Rule Over Crimea In New Peace Deal: Report Reveals Major Twist In Ukraine War Talks