During a call with Donald Trump, Vladimir Putin apparently rejected a 30-day ceasefire with Ukraine but agreed to halt attacks on Ukrainian energy infrastructure, according to the Kremlin.

Ukrainian forces are reported to have been all but pushed out of Kursk.

Earlier, Mr Trump had called talks between Vladimir Putin and Steve Witkoff, America’s envoy to the Middle East, “good and productive”

In a joint statement, G7 countries, including America, offered “unwavering support” to Ukraine, and threatened Russia with more sanctions if “a ceasefire is not agreed”

Vladimir Putin said that Russia agrees with the “idea” of ending the war in Ukraine but suggested that negotiations should “remove underlying causes” of the conflict.

America’s annual inflation rate fell to 2.8% in February, below forecasts of 2.9%.

Ukraine said it was “ready” to accept an American proposal for a 30-day ceasefire with Russia.

Wall Street stock indices plunged on Monday after Donald Trump did not rule out the possibility that America could enter a recession this year.

Ukraine’s president, Volodymyr Zelensky, said he is “fully committed” to talks between Ukrainian and American officials in Saudi Arabia next week on ending the war.