Putin also claimed that Zelensky’s European allies have pushed for demands that are “absolutely unacceptable."

While some in Russia believe Ukraine is standing in the way of peace, other analysts say Putin has maximalist ambitions.

The European Union agreed Wednesday to phase out Russian natural gas imports by late 2027 as part of an effort to end the bloc’s decade-long dependency on Russian energy.

The European Union's plans to phase out Russian natural gas imports by 2027 will impact some member nations more than others, due to wide country variance in gas dependence and differing abilities to switch suppliers to other origins.

Several top Ukrainian officials were expected to be in Brussels on Wednesday for meetings with European national security advisers, President Volodymyr Zelenskyy said.

As the EU looks to reduce its dependence on China for critical raw materials, CNBC's Sam Meredith travels to Europe's largest rare earths magnet factory in Narva, Estonia to explore the role the facility can play in supporting the bloc's push.

U.S. special envoy Steve Witkoff is meeting with Russian President Vladimir Putin to discuss a peace plan that Washington hopes can end the nearly four-year war in Ukraine.

By Ben Aris in Berlin Trade between Russia and the European Union has plummeted to its lowest level on record, as sanctions, energy decoupling, and sanctions bite, Izvestiya reported on December 2. According to figures released by the Russian Mission to the EU cited by Izvestiya,