Speaking in China at the end of a visit there, Putin said that he perceived "a certain light at the end of the tunnel" given what he said were sincere efforts by the United States to find a settlement to the conflict.
"It seems to me that if common sense prevails, it will be possible to agree on an acceptable solution to end this conflict. That is my assumption," he told reporters in Beijing.
"Especially since we can see the mood of the current US administration under President Trump, and we see not just their statements but their sincere desire to find this solution.
"And I think there is a certain light at the end of the tunnel. Let's see how the situation develops. If not, then we will have to resolve all the tasks before us by force of arms."
Putin did not however indicate any willingness to soften his long-standing demands that Ukraine abandon any ideas of joining the NATO military alliance, reverse what the Kremlin has described as discrimination against Russian speakers and ethnic Russians or step back from the idea that Russia must have full control of at least the Donbas area in eastern Ukraine.
The Russian leader said that in his view Ukraine needed to cancel martial law, hold elections and hold a referendum about territorial questions if progress was to be made.
He said he was ready to hold talks with Ukrainian President Volodymyr Zelenskiy if the Ukrainian president came to Moscow but that it remained to be seen whether such a meeting was worthwhile.
He repeated his view that Zelenskiy, whom has not faced re-election due to martial law despite his official term in office expiring, was illegitimate.
Ukraine flatly rejects that, saying it is impossible to hold meaningful elections at a time of war.
Zelenskiy has been pressing to meet Putin to discuss the terms of a possible deal even though the two sides remain far apart, urging the US to sanction Russia again if Putin does not agree.
US President Donald Trump - who has been trying to broker a peace settlement - has also said he wants the two leaders to meet and spoken of but not yet imposed secondary sanctions on Russia.
Putin told reporters he had always been open to meeting Zelenskiy but reiterated the Kremlin's oft-repeated stance that such a meeting had to be well prepared in advance and lead to tangible results.
"As for a meeting with Zelenskiy I have never ruled out the possibility of such a meeting. But is there any point? Let's see," he said.
The Ukrainian government said on Wednesday in response that Putin's proposal to meet with Zelenskiy in Moscow was unacceptable.
Foreign Minister Andrii Sybiha said that at least seven countries, including Austria, the Vatican, Switzerland and three Gulf states, were ready to host the meeting.
"These are serious proposals and President Zelenskiy is ready for such a meeting at any point in time," he said on X.
"Yet, Putin continues to mess around with everyone by making knowingly unacceptable proposals."
Several European leaders, including French President Emmanuel Macron and Zelenskiy, will call Trump on Thursday afternoon after a summit to discuss security guarantees, the French presidency said.
