Vladimir Putin has said Russia may have to strike a deal with Ukraine to end its war.
Speaking at a news conference in Kyrgyzstan, the Russian president also admitted there had been problems in mobilising hundreds of thousands of conscripts to fight in the conflict.
Russia has suffered a series of military setbacks since launching its invasion of Ukraine in February this year.
Vladimir Putin was speaking at a news conference in Kyrgyzstan. He is pictured with Kyrgyz President Sadyr Japarov. Image: AP
In recent months, Ukraine has regained control of significant areas of occupied territory in the east, while Russia most recently ceded ground in the southern city of Kherson.
Now Mr Putin has suggested that Russia will likely have to reach an agreement regarding Ukraine in the future.
It is one of the first times he has spoken publicly about a potential peace deal.
It also comes after Kremlin spokesman Dmitry Peskov said on Tuesday that the outcome of the conflict should be a “just and durable peace”.
However, he said that Russia did “not see them (the prospect of negotiations) at the moment”.
The sticking point is likely to be over Crimea and other Ukrainian territories occupied by Russia.
A house in the Zaporizhzhia region is heavily damaged by a Russian missile strike
Ukrainian president Volodymyr Zelenskyy has consistently said Russia must exit all occupied territories before peace talks can begin.
This includes Crimea, which Russia annexed during an illegal invasion in 2014.
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He also annexed the regions of Donetsk, Kherson, Luhansk and Zaporizhzhia following referenda in September which the West labelled a “sham”.
Last month, Mr Putin demanded the West must formally recognise the four regions before peace talks can go ahead.
On Friday, he also admitted that there had been some problems procuring equipment and clothes for the hundreds of thousands of conscripts called up to fight in Ukraine.
Volodymyr Zelenskyy has insisted Russia must leave all occupied territories before peace talks can start
At the news conference in Bishkek, he admitted there had been issues related to supplying the 300,000 men who were called up in a mobilisation drive in September and October.
However, he said those issues were now easing.
The Russian president also said there was no need to call up additional troops to fight in Ukraine, as there were 150,000 recently conscripted fighters who had not yet been sent to the frontlines.
Although Mr Putin has repeatedly said mobilisation is over, the Kremlin has refused to rescind an official decree ordering the call-ups, stoking fears that a second wave could be announced.