Washington DC/IBNS: US President Donald Trump on Monday announced that Russia and Ukraine will immediately start negotiations towards a ceasefire following his two-hour call with President Vladimir Putin.

Describing his conversation with President Putin as one that went "very well", he said that the negotiations are a significant step towards the "end of the war".

"Russia and Ukraine will immediately start negotiations toward a Ceasefire and, more importantly, an END to the War. The conditions for that will be negotiated between the two parties, as it can only be, because they know details of a negotiation that nobody else would be aware of, Trump said in a post on TruthSocial.

Trump said the "tone and spirit of the conversation were excellent".

"If it wasn’t, I would say so now, rather than later. Russia wants to do largescale TRADE with the United States when this catastrophic “bloodbath” is over, and I agree. There is a tremendous opportunity for Russia to create massive amounts of jobs and wealth. Its potential is UNLIMITED. Likewise, Ukraine can be a great beneficiary on Trade, in the process of rebuilding its Country," he added.

Trump said he has informed Ukrainian President Volodymyr Zelenskyy about the start of negotiations.

Representatives from Ukraine and Russia last week held their first direct talks in more than three years, mediated by Turkey.

Russia had then declined to commit to a ceasefire proposal.

During the talks in Istanbul, Russia repeated broad demands, including its country's control of five regions of Ukraine.