The EU is preparing new sanctions on Russia despite a potential meeting between Vladimir Putin and Volodymyr Zelenskyy on Thursday, three sources told CNBC.

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.

KYIV: Ukraine's President Volodymyr Zelenskyy says he will be waiting for Russian leader Vladimir Putin in Ankara on Thursday (May 15) for talks. Putin hasn't yet said whether he will be at

Ukrainian President Volodymyr Zelensky will travel to Ankara on May 15, prepared to meet Russian President Vladimir Putin for direct talks — if Putin attends. Zelensky warned that Putin’s absence would signal his unwillingness to end the conflict and called for new sanctions if he fails to show.

Newsweek has reached out to the Russian Foreign Ministry for comment.

Russian dictator Vladimir Putin must respond to the ceasefire proposal in Ukraine by the end of the day, The Guardian reports. According to German government spokesperson Stefan Kornelius, "the clock is ticking" for Russia.