"The fact that Ukraine has started to put its demands down on paper, to be more specific is a positive thing," a Kremlin spokesperson said on Wednesday, per Reuters. The spokesperson, however, added that they have not noticed anything that looks like a breakthrough in negotiations.

Additional takeaways

"There is long work ahead."

"Peace talks need to be held in private, won't get into the substance of what is being discussed."

"Crimea is part of Russia and the Russian constitution precludes discussions about the fate of Russian regions with anyone."

"Senior lawmakers' idea of asking other countries to pay for a wide range of Russian exports in roubles should be worked on."

"Such idea is in Russia's national interest and that of its partners."

"Dollar's role as the main global reserve currency has reduced, settlements in national currencies are inevitable."

"Gas-for-roubles payment method to be announced publicly."

"Russia will not immediately demand switch to gas payments in roubles, promises gradual change."

Market reaction

The market mood sours following these remarks and the Euro Stoxx 600 Index was last seen losing 0.7% on the day.