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Putin does not believe in Trump's ultimatum, which ends on Friday, and has no intention of following it
According to Reuters, Putin is confident of victory and does not believe new U.S. sanctions will be effective.
The Russian General Staff has reported to Putin that the Ukrainian front will collapse in 2-3 months, and Russia is likely to seize Donetsk, Luhansk, Kherson and Zaporizhzhia regions after that, possibly then starting negotiations.
The Kremlin doubts that Trump will follow through on his ultimatum, as in the past they believe he has often threatened but failed to act or change his mind.

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