Ukrainian President Volodymyr Zelenskyy comments mark the latest move in a weekend-long exchange of proposals from both sides on the next steps in the U.S.-led peace effort.

PARIS (Reuters) -French President Emmanuel Macron said on Tuesday he was in favour of imposing new sanctions on Russia in coming days if Moscow failed to agree to a ceasefire, mentioning financial services and oil and gas as possible targets.

Three-day ceasefire in Ukraine that was unilaterally declared by Russian President Vladimir Putin last month was set to come into effect at 5 p.m. ET on Wednesday (midnight Moscow time), as Russia prepares to mark the anniversary of its World War II Victory Day on Friday.

The announcement was made by leaders of Britain, France, Germany, Poland and Ukraine after a meeting in Kyiv, and a phone call with President Trump.

Ukrainian President Volodymyr Zelenskyy on Sunday challenged Russia’s President Vladimir Putin to meet him personally in Turkey on Thursday, the latest move in a weekend-long exchange of proposals from both sides on the next steps in the U.

Ukrainian President Volodymyr Zelensky says he will be present in Turkey for direct negotiations with Russian President Vladimir Putin, telling CNN’s Nick Paton Walsh he expects new sanctions to be imposed on Russia if a 30-day unconditional ceasefire isn’t agreed upon.