Russian Foreign Minister Sergey Lavrov said on Monday, “any meeting between Putin and Zelenskyy to exchange views now would be counter-productive.”

Meanwhile, Ukraine's President Volodymyr Zelenskyy has said that Ukraine is to insist on sovereignty and territorial integrity at the next round of talks with Russia in Turkey.

Earlier on, a senior Turkish official said that Ukraine and Russia negotiators would begin talks in Istanbul later today, per Reuters.

Market reaction

Lavrov’s comments have had little to no market impact, as sentiment remains driven by the bond rout, with USD/JPY emerging as the outperformer across the fx board.

The S&P 500 futures are down about 0.10% on the day while the European indices have gained above 1% so far.