Russian President Vladimir Putin informed Hungarian Prime Minister Viktor Orban today that he is prepared to engage in discussions concerning the finer points of his peace initiatives aimed at resolving the conflict in Ukraine, as reported by Reuters.

"I recently addressed our Foreign Ministry leadership in Moscow where I outlined our stance on a potential peaceful resolution. I am indeed ready to delve into the details with you," Putin stated, according to TASS.

Acknowledging a significant decline in bilateral trade, Putin highlighted the importance of enhancing economic ties and pursuing joint projects. "There are ample opportunities for collaboration. I'm pleased to meet with you, and there's much to discuss," he added.

Putin welcomed Orban to the Kremlin, expressing interest in hearing the Hungarian Prime Minister's perspective on Ukraine and requesting insights into the positions of other European partners. "I trust you will brief me on your stance and that of your European colleagues," Putin remarked.

Ahead of their discussions at the Kremlin, Putin noted Hungary's current presidency of the Council of the European Union, emphasizing the timing of their meeting.

Orban, addressing Putin, underscored the importance of discussing matters critical to Europe. "Hungary will soon be the last European country capable of maintaining dialogue with everyone," he told RIA Novosti.

Describing the meeting as "special," Orban expressed gratitude to Putin for receiving him despite challenging circumstances, as reported by TASS.

According to Kremlin spokesman Dmitry Peskov, the negotiations began with broader format discussions involving delegations from both sides. He indicated the possibility of private talks between the leaders if necessary, suggesting a continuation over a working lunch and potentially extending for several hours.

"The negotiations are progressing as planned. Initially, discussions are involving delegations, followed by a working lunch. Should the leaders find it appropriate, they can convene privately," Peskov stated. "The talks will proceed for as long as needed, likely lasting at least two to three hours," he added.