Charles Capel

News when you want it with Bloomberg News Now.

I'm Charles Capel.

Ukraine's President Volodymyr Zelensky has proposed direct peace talks with Vladimir Putin in a combative open letter.

He tells the Russian leader Ukraine is ready for a full ceasefire for the duration of the negotiations, an offer Putin has previously refused.

U.S.

President Donald Trump welcomed the initiative.

President Trump there appearing to support Zelensky's appeal, which came after discussions with officials from the UK, France and Germany.

However, speaking via a translator, Russia's President Vladimir Putin dismissed the idea EU countries could act as potential mediators.

That's news when you want it with Bloomberg News Now.

I'm Charles Capel.

News when you want it with Bloomberg News Now.

I'm Charles Capel.

The United States and Iran are considering a fresh proposal to end the war that has upended the global economy.

Sources say Washington has presented a one-page memorandum of understanding that would gradually reopen the Strait of Hormuz and lift the American blockade on Iranian ports.

Iran is expected to respond via Pakistan within the next two days.

The offer caps a chaotic 48 hours as President Donald Trump searches for an exit from a conflict that has driven up global energy prices and dented his political standing.

Speaking yesterday, he offered a characteristically bullish assessment of progress.

Throughout the war, President Trump has repeatedly suggested a deal is close, though none has materialised.

Under the plan, detailed negotiations over Iran's nuclear programme would come later, with nothing yet agreed.

Iranian state media have signalled that parts of the US proposal remain unrealistic to the country's leadership.