The deteriorating economic situation in Russia may prompt Vladimir Putin to engage in peace negotiations and end the war against Ukraine, five sources close to the Kremlin administration told Reuters.

Donald Trump’s inauguration as U.S. president has raised hopes that an end to Russia’s three-year war on Ukraine — or at least a ceasefire — may be on the horizon, even as many experts doubt his ability to deliver on his promises to end the war.

The impending Donald Trump presidency has fueled market speculation that a peace deal between Russia and Ukraine could be reached soon — bolstered by Trump’s campaign trail rhetoric promising to end the war within days of taking office,