The U.S. and Russia are aiming to secure a peace deal that would lock in Russia's gains in Ukraine following its invasion three and a half years ago, according to a report by Bloomberg .

The deal would mean Ukrainian President Volodymyr Zelensky giving up the entire eastern Donbas, Crimea and parts of Luhansk and Donetsk, where fighting is still raging, unnamed sources told Bloomberg.

If confirmed, such a deal would represent a huge win for Russian President Vladimir Putin .

Ukraine has not agreed to the proposed deal, Bloomberg reported. Putin and U.S. President Donald Trump are expected to meet for talks next week.

This is a breaking news story—more to follow.

See Full Page