Russian Chief Negotiator Vladimir Medinsky said that peace talks with Ukraine have not stopped but are being held remotely.

His comments come as the Victory Day parade began in Moscow, with troops and heavy weapons.

In his victory speech, Russian President Vladimir Putin said that the "special military operation" in Ukraine was the right decision. 

"You're fighting for our people in Donbas, for the safety of our motherland in Russia,” Putin added.

The Russian leader linked his war in Ukraine with that historic struggle in a speech that blamed the West for the conflict but contained no new escalations, per NBC News.

On the other side, Ukrainian President Volodymyr Zelenskyy reportedly said that “very soon there will be two Victory Days in Ukraine. “

“We won then. We will win now,” Zelenskyy said.

Market reaction

The market is paying little heed to the Victory Day event in Russia and Putin’s speech, as risk-off flows remain in play amid global growth concerns.

S&P 500 futures are down 1.60% on the day while the US dollar index is trading at 104.03, higher by 0.35%, as of writing.