Vladimir Putin has said the conflict in Ukraine is approaching its conclusion just hours after Russia’s most diminished Victory Day commemoration in recent memory.”I think that the matter is coming to an end,” the Russian president told journalists, while maintaining the situation remained “a serious matter”.Mr Putin directed sharp criticism at Western nations for their continued backing of Kyiv throughout the conflict, which has now entered its fifth year and claimed hundreds of thousands of lives.”They started ratcheting up the confrontation with Russia, which continues to this day,” he said.The Russian leader accused Western powers of becoming trapped in their approach after failing to witness Russia’s anticipated collapse, saying: “They spent months waiting for Russia to suffer a crushing defeat, for its statehood to collapse. It didn’t work out.”Mr Putin indicated his willingness to discuss new European security frameworks, naming former German Chancellor Gerhard Schröder as his preferred interlocutor.”For me personally, the former chancellor of the Federal Republic of Germany, Mr Schröder, is preferable,” Mr Putin said when asked about potential European negotiations.The choice is likely to provoke scepticism across Ukraine and the continent, given Mr Schröder’s well-documented friendship with the Russian president and his extensive commercial connections to Russian enterprises, including involvement with the Nord Stream gas pipeline projects.Vladimir Putin hs suggested that the war with Ukraine ‘is coming to an end’ after over four years of fighting | GETTYUkrainian President Volodymyr Zelensky branded Mr Schröder “disgusting” in 2022 following the outbreak of full-scale hostilities, after the former chancellor met with Putin and made statements favourable to the Kremlin’s position.European Council president António Costa suggested last week the EU saw “potential” for direct negotiations with Moscow regarding continental security architecture.A three-day ceasefire between the warring parties came into force on Saturday, following an announcement made jointly by Russia, Ukraine and Donald Trump on Friday.However, the first day of the truce was marred by both sides accusing each other of breaching the agreement, with reports of ongoing drone operations and civilian deaths on both fronts.Red Square saw one of the smallest Victory Day parades in decades on Saturday | GETTYThe Kremlin has confirmed it does not intend to prolong the temporary halt in fighting beyond the initial three days.As part of the ceasefire arrangement, both nations agreed to exchange 1,000 prisoners each during the pause in hostilities.Mr Putin noted on Saturday that Moscow had yet to receive any formal proposals from Ukrainian authorities regarding the prisoner swap.Saturday’s Victory Day parade in Moscow was dramatically scaled back compared to previous years, with military equipment absent from the display for the first time in nearly two decades.The event attracted only a small number of foreign leaders, predominantly from nations closely aligned with Russia, including Belarus, Malaysia, Laos, Uzbekistan and Kazakhstan.This stood in stark contrast to last year’s commemoration, which drew high-profile attendees such as Chinese President Xi Jinping.In the days preceding the parade, Moscow had issued threats to strike central Kyiv, including foreign diplomatic missions, warning embassies to remove their personnel amid concerns about potential Ukrainian disruption.Mr Zelensky chose instead to mark Europe Day on Saturday, declaring Ukraine “an inseparable part of the European family” and praising European solidarity since the full-scale invasion began.