PARIS (Reuters) - The United States and its European allies are finalising a proposal for a 30-day ceasefire in Ukraine that if refused would see them jointly impose new sanctions on Russia, a French diplomatic source said on Friday.

China’s President Xi Jinping and other world leaders join Russia’s Vladimir Putin to watch military parade in Moscow’s Red Square.

President of the United States of America, Donald Trump has said that he would be pushed to make a decision soon as Russia and Ukraine frustrate his administration’s efforts to end the war between the two countries.

The United States will be ready to "walk away" from the negotiating table if it does not see Russia making progress in negotiation to end the war, U.S. Vice President JD Vance told Fox News on May 8.

Vice President JD Vance said Wednesday that the Trump administration believes Russia is "asking for too much" during talks to bring its war in Ukraine to an end.

Russia is asking for “too much” in peace with Ukraine, JD Vance has said. The vice-president suggested that Vladimir Putin is pushing for too many concessions as discussions between the two nations have stalled in recent weeks,

Russia marks on Friday the 80th anniversary of the Soviet and allied victory over Nazi Germany, though there are fears that Ukraine may seek to disrupt the most hallowed celebration in the Russian calendar.

Vladimir Putin has led Russia's Victory Day commemorations with a parade in Red Square and heightened security after days of Ukrainian strikes targeting the capital. China's Xi Jinping joined Putin as he told thousands of soldiers and more than 20 international leaders that Russia remembered the lessons of World War Two.

Chinese leader Xi Jinping and Russian President Vladimir Putin signed a joint statement “further deepening” their partnership following talks in Moscow Thursday – a show of solidarity in the face of global uncertainties unleashed by US President Donald Trump’s “America First” diplomacy.