Ukraine is said to be "ready" to give up territory currently held by Russian forces and stop fighting as part of a plan to end Vladimir Putin's war.

Donald Trump has said Kyiv must agree to give up some areas, and that he would try to "get back" some of the country's "oceanfront property" from Russia in exchange.

Volodymyr Zelensky had previously told European leaders that they must turn down any settlement suggested by Trump that would see Ukrainian land being given away - but this territory could now be part of negotiations.

Volodymyr Zelensky had previously told European leaders that they must turn down any settlement suggested by Trump that would see Ukrainian land being given away

The softening stance comes ahead of crucial talks between Trump and Putin, set to take place in Alaska on Friday.

Trump has confirmed that the Ukrainian President will not be present during the crucial in-person meeting.

The Commander-in-Chief said he would call Zelensky after the talks were finished - if Putin offered a "fair deal".

Trump said: “I may say, ‘lots of luck, keep fighting’, or I may say, ‘we can make a deal’".

Trump confirmed that the Ukrainian president will not be present during the in-person meeting

Zelensky is set to join a call with Trump and European leaders on Wednesday in a final bid to put Ukraine's case to the US.

But the US Presisdent revealed: “There will be some land-swapping going on. I know that through Russia and through conversations with everybody.

“We’re going to change the lines, the battle lines. Russia has occupied a big portion of Ukraine. They’ve occupied some very prime territory.

"We’re going to try and get some of that territory back for Ukraine. They have taken largely - in real estate we call it oceanfront property. That’s always the most valuable property.”

Putin had previously demanded the areas of Zaporizhzhia, Kherson, Donetsk, Luhansk and Crimea in exchange for a peace settlement.

However, it was reported last week that Russia would accept taking only Luhansk and Donetsk - but this appeared to be a misunderstanding following a meeting in Moscow between Putin and Steve Winkoff, the US special envoy.

Trump reiterated that both Ukraine and Russia must be willing to give up territory in exchange for peace, with the Ukrainians forced to put up with both the "good stuff" and the "bad stuff".

However, Zelensky has warned he does not believe Russian forces were winding down their operations, saying: “On the contrary, they are moving their troops and forces in such a way as to launch new offensive operations".

Putin had previously demanded the areas of Zaporizhzhia, Kherson, Donetsk, Luhansk and Crimea in exchange for a peace settlement

Zelensky had also previously suggested swapping Ukrainian-held territory in Russia's Kursk region for its own seized land.

Putin's forces have now taken back the vast majority of the land, with Ukraine now only clinging on to four square miles of the territory.

The Ukrainian President also acknowledged that his country's forces do not have the capabilities to take back land held by Russia.

Putin currently holds 20 per cent of all Ukrainian territory, as per the country's 1991 borders.