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It seems Russian President Vladimir Putin is willing to participate and cooperate in peace talks regarding the Ukraine war, while reports mention that the Russian autocrat is gripped by fear over the nation's economy.

Knewz.com has learned that the Russian President's willingness to cooperate with the peace talks came amidst President Donald Trump's ultimatum about reaching a settlement.

Trump had repeatedly claimed on his campaign circuit that the Ukraine war would not have come to pass if he was President and that he could bring a swift end to the conflict if he took back the Oval Office.

Now that he has been reinstated in the White House, it seems Trump intends to make good on his promise.

Trump threatened to further weaken the Russian wartime economy with a tirade of taxes, tariffs, and sanctions on everything sold from Russia to the United States and other countries if Putin does not cooperate and participate in peace talksdescribed by Trump as "making a deal."

The new American President shared his threats on the Truth Social platform, where he wrote:

"I’m not looking to hurt Russia. I love the Russian people, and always had a very good relationship with President Putin - and this despite the Radical Left’s Russia, Russia, Russia HOAX. We must never forget that Russia helped us win the Second World War, losing almost 60,000,000 lives in the process."

"All of that being said, I’m going to do Russia, whose Economy is failing, and President Putin, a very big FAVOR. Settle now, and STOP this ridiculous War! IT’S ONLY GOING TO GET WORSE," Trump added in his statement.

"If we don’t make a 'deal,' and soon, I have no other choice but to put high levels of Taxes, Tariffs, and Sanctions on anything being sold by Russia to the United States, and various other participating countries."

"Let’s get this war, which never would have started if I were President, over with! We can do it the easy way, or the hard way - and the easy way is always better," Trump further wrote on his Truth Social post.

He added, "It’s time to “MAKE A DEAL.” NO MORE LIVES SHOULD BE LOST!!!"

Responding to Trump's Truth Social comments regarding the war in a recent televised statement, Putin said that he is ready to discuss the war in Ukraine with the American President and suggested it would be a good idea for them to meet.

"We believe the current president’s statements about his readiness to work together. We are always open to this and ready for negotiations... It would be better for us to meet, based on the realities of today, to talk calmly," Putin said in a statement to a Russian state TV journalist.

He went on to describe his relationship with Trump as “businesslike, pragmatic, and trustworthy”.

It has been reported that Putin is already concerned over the worsening economy of Russia as the Ukraine war exacts its toll.

While Russian exports of oil, gas, and minerals have seen some growth over the last two years – despite international sanctions – reports have mentioned that "domestic activity has become strained in recent months by labor shortages and high interest rates introduced to tackle inflation, which has accelerated under record military spending."

This has, in turn, made a settlement regarding the Ukraine conflict a desirable outcome for a section of the Russian elite, further increasing the pressure on Putin to cooperate in peace talks.

Trump also talked about his "open letter" to Russia at the World Economic Forum in Davos, Switzerland, essentially saying that it was Putin's move next.

When asked if he thinks he will have solved the Ukraine crisis by the time he visits Davos next year for the forum, Trump replied:

"Well, you’re gonna have to ask Russia. Ukraine is ready to make a deal. Just so you understand, this is a war that should’ve never started. If I were president, it would never have started. This is a war that should have never, ever been started."

"I knew that [Ukraine] was the apple of President Putin’s eye, but I also knew that there was no way he was going in and he wasn’t going in. And then when I was out, uh, bad things happened, bad things were said. A lot of stupidity all around. And you end up with what you have now. You have all these bombed-out cities. They look like demolition sites with many people killed," he added.