The EU is preparing new sanctions on Russia despite a potential meeting between Vladimir Putin and Volodymyr Zelenskyy on Thursday, three sources told CNBC.

Ukrainian President Volodymyr Zelensky said he is prepared to meet Vladimir Putin this week, shortly after US President Donald Trump urged him to “immediately” accept the Russian leader’s offer to hold peace talks in Turkey.

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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.

KYIV/BRUSSELS: Ukraine's President Volodymyr Zelenskyy says he will be waiting for Russian leader Putin in Ankara on Thursday (May 15) for talks. President Putin hasn't yet said whether he w

Ukrainian President Volodymyr Zelensky will travel to Ankara on May 15, prepared to meet Russian President Vladimir Putin for direct talks — if Putin attends. Zelensky warned that Putin’s absence would signal his unwillingness to end the conflict and called for new sanctions if he fails to show.

The Istanbul meeting will be decisive in determining a ceasefire: if it does not take place, it will signal that Russia is not interested in ending the war. In that case, the West must act decisively and impose the strongest possible sanctions package,

Newsweek has reached out to the Russian Foreign Ministry for comment.