Russian forces have the advantage on the battlefield, so a decision by Mr. Putin to settle rather than try to conquer more of Ukraine should be seen as a concession in itself, said Feodor Voitolovsky, director of the Institute of World Economy and International Relations, a Russian government-funded research group.

Swiss President Karin Keller-Sutter flew to Washington on Tuesday to seek talks with the Trump administration over the steep 39% tariff imposed on Switzerland. But Keller-Sutter was only able to meet with Secretary of State Marco Rubio, not with any of the primary tariff negotiators.

The threat of more U.S. sanctions jump-started stalled peace talks but might not produce a deal to halt the fighting.