Europe and Ukraine have prepared a counterproposal in response to Putin's plan.

European allies and Ukraine have responded to Putin's ceasefire plan with a counterproposal they say must serve as a framework for upcoming talks between Donald Trump and the Russian leader to gain momentum, the newspaper reported, citing two European officials.

The Wall Street Journal also noted that the European plan emphasizes that a ceasefire must be concluded before any other steps are taken. Furthermore, the counterproposal rejects the territorial concessions Putin is demanding from Ukraine unless the exchange is reciprocal.

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The plan, reported by the American newspaper, also stipulates that"any territorial concessions by Kyiv must be secured by ironclad security guarantees, including Ukraine's potential membership in NATO".

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The proposal was to be presented in detail on Saturday to U.S. Vice President J.D. Vance and U.S. Secretary of State Marc Rubio. Special envoys of the Donald Trump administration, Steve Witkoff and Keith Kellogg, were also to be briefed.

The move by European allies and Ukraine comes just days before the US president is scheduled to meet with Vladimir Putin. On Friday, Trump announced that he would meet with the Russian leader in Alaska on August 15, a move confirmed by the Kremlin.