Russian President Vladimir Putin announced on Friday that Russia is prepared for a third round of negotiations with Ukraine, although the venue and date remain undecided, according to remarks reported by Russian state news agency TASS.

Speaking at a press conference on the sidelines of a regional summit in Minsk, Putin said that the new round of talks would focus on "memoranda of understanding" exchanged by Moscow and Kyiv, which outline each side’s vision for resolving the ongoing conflict.

“These are two completely contradictory memoranda. But the negotiations are being conducted precisely to find common ground,” Putin said, acknowledging the deep divide between the Russian and Ukrainian positions.

He expressed gratitude to Turkish President Recep Tayyip Erdogan for his role in facilitating earlier talks between the two sides in Istanbul, saying that some of the understandings reached there had already been implemented.

Putin Praises Trump, Signals Openness to U.S. Mediation

In a notable diplomatic gesture, Putin said he is open to direct contact with U.S. President Donald Trump, describing Trump’s efforts to resolve the Ukraine conflict as “sincere.”

“I have great respect for President Trump,” Putin said, signaling potential willingness to include Washington in future talks.

Further Humanitarian Measures and Military Spending

Putin also stated that Russia is willing to return the remains of 3,000 additional Ukrainian soldiers, in addition to the 6,000 already handed over as part of recent agreements on prisoner and soldier exchanges.

“Russia and Ukraine will maintain communication after these exchanges are completed,” he added.

On the broader geopolitical front, the Russian president warned Western countries that rising military expenditures would not lead to greater security, but would instead harm economic well-being.

“We are planning to reduce defense spending... not just next year, but for the next three years,” Putin said, adding that discussions are ongoing between the Ministry of Defense, Ministry of Finance, and Ministry of Economic Development.

He contrasted Russia’s strategy with Europe’s, suggesting that the West’s increased military budgets signal more aggressive intentions.

“So who is preparing for an act of aggression—us or them?” he asked rhetorically.