Ukrainian President Volodymyr Zelenskyy comments mark the latest move in a weekend-long exchange of proposals from both sides on the next steps in the U.S.-led peace effort.

Three-day ceasefire in Ukraine that was unilaterally declared by Russian President Vladimir Putin last month was set to come into effect at 5 p.m. ET on Wednesday (midnight Moscow time), as Russia prepares to mark the anniversary of its World War II Victory Day on Friday.

PARIS (Reuters) -French President Emmanuel Macron said on Tuesday he was in favour of imposing new sanctions on Russia in coming days if Moscow failed to agree to a ceasefire, mentioning financial services and oil and gas as possible targets.

The weapon is made with a model aircraft engine available for approximately $16,000, according to the Ukrainian Main Intelligence Directorate.

The Kremlin brushed off the threat of further sanctions, saying that “the language of ultimatums is unacceptable.”