Russia and Ukraine were set to take part in a major prisoner swap on Friday, described as the biggest since the start of the full-scale Russian invasion in 2022. Officials from both countries agreed to exchange 1,000 prisoners of war each, during otherwise fruitless peace negotiations in Istanbul a week ago.

President Trump announced on Friday that Ukraine and Russia were conducting a major prisoner exchange after the two warring countries agreed a week ago to swap 1,000 prisoners each as part of cease-fire negotiations.

Kyiv’s European allies have slapped new sanctions on Moscow, a day after a phone call between U.S. President Donald Trump and Russian President Vladimir Putin failed to produce a breakthrough on ending the 3-year-old war in Ukraine.

Ukraine and Russia began their largest exchange of prisoners of war on Friday that had been agreed during their first peace talks in three years, according to Ukrainian officials.

Pope Leo XIV may have offered to host Russia-Ukraine peace talks at the Vatican, but neither the pope nor senior Vatican officials have spoken publicly about the possibility, leaving prospects for such talks uncertain.

The announcement was made ahead of an expected prisoner exchange between Ukraine and Russia on Friday – an outcome of last week’s face-to-face talks in Turkey, the first time the two countries have held direct talks at any level in three years.

It follows Donald Trump saying Russia and Ukraine will "immediately" start negotiating, after a two-hour phone call with Vladimir Putin.

Gold prices eased on Tuesday, as a slightly firmer dollar and optimism over a potential ceasefire between Russia and Ukraine dampened investor demand for safe-haven assets.