Neither Russia nor Ukraine will be happy with the peace deal proposed to end the war, the United States has warned.

As the shape of negotiations started to emerge on Sunday, JD Vance, the US vice-president, admitted that neither side would be content with the terms of the agreement, aimed at bringing an end to the three-year conflict.

Mr Vance appeared to suggest that the current front lines would be frozen and territory exchanged.

“Both the Russians and the Ukrainians, probably, at the end of the day, are going to be unhappy with it,” he told Fox News.