Steve Witkoff, the special envoy for U.S. President Donald Trump, arrived in Moscow on Wednesday, according to state-owned Russian media. His visit comes just days before a deadline set by the White House for Russia to negotiate a peace deal with Ukraine. Failure to do so could result in severe economic penalties for Russia, which may also affect countries that purchase its oil.

Witkoff was seen taking a morning walk in Zaryadye Park, located near the Kremlin, alongside Kirill Dmitriev, the Russian president's envoy for investment and economic cooperation. Dmitriev has been instrumental in facilitating direct talks between Russia and Ukraine in Istanbul and has engaged in discussions with U.S. officials.

It remains unclear if Witkoff will meet with Russian President Vladimir Putin during this visit, which marks his fifth trip to Moscow since Trump took office. Kremlin spokesman Dmitry Peskov expressed that talks with Witkoff are considered "important, substantive, and very useful."

The deadline for Putin to reach a ceasefire agreement is set for Friday. Washington has warned of imposing "severe tariffs" and other economic sanctions if hostilities continue in Ukraine. Despite Trump's efforts, including threats and diplomatic overtures, there has been little change in the Kremlin's stance, leading to a persistent diplomatic stalemate.

As the conflict continues, Ukraine is reportedly losing more territory on the front lines, although analysts indicate that its defenses are not on the verge of collapse. Trump had initially given Moscow a 50-day deadline but shortened it as Russian attacks on Ukrainian cities persisted.

The potential sanctions could include additional restrictions aimed at crippling Russia's economy and secondary tariffs targeting nations that import Russian oil, particularly China and India. Trump acknowledged on Sunday that Russia has been adept at evading sanctions, describing them as "wily characters."

The Kremlin has maintained that the international sanctions imposed since its invasion of Ukraine in February 2022 have had limited effects. However, Ukraine argues that these sanctions are impacting Russia's military capabilities and is urging Western allies to intensify them.

Ukrainian President Volodymyr Zelenskyy has called on the United States, Europe, and other nations to impose stronger secondary sanctions on Russia's energy, trade, and banking sectors. The situation remains fluid as diplomatic efforts continue.