Russia and Ukraine announced on Friday their acceptance of a three-day ceasefire proposed by US President Donald Trump, set to take effect from May 9 through May 11.

In his Truth Social message, Trump noted that the nations, entangled in over four years of intense conflict, would also conduct a swap of 1,000 prisoners of war each.

Amid mutual accusations of breaching earlier unilateral truces this week, both capitals confirmed the new arrangement as Russia prepares for its Victory Day parade on May 9, commemorating the Soviet triumph over Nazi Germany in 1945.

"This Ceasefire will include a suspension of all kinetic activity, and also a prisoner swap of 1,000 prisoners from each Country," Trump stated.

"This request was made directly by me, and I very much appreciate its agreement by President Vladimir Putin and President Volodymyr Zelensky. Hopefully, it is the beginning of the end of a very long, deadly, and hard fought War."

Trump further indicated that negotiations are progressing toward war's conclusion, with daily advancements.

Posting on Telegram, Zelensky verified the US-mediated ceasefire and emphasized humanitarian priorities.

"That is why today, within the framework of the negotiation process mediated by the American side, we received Russia's agreement to conduct a prisoner of war exchange in the format of 1,000 for 1,000," Zelensky stated.

In a light-hearted decree, Zelensky "permitted" Russia's May 9 parade to go ahead, assuring no Ukrainian strikes on Red Square.

Kremlin aide Yuri Ushakov, conveying Putin's stance to journalists, affirmed Russia's support for Trump's proposal.

"An agreement on this matter was reached during our telephone discussions with the US administration," he explained.

Prior to this, Russia and Ukraine had traded claims of truce violations from their separate declarations.

Despite the pummeling with missiles, drones, and artillery, no resolution appears imminent. Peace negotiations remain deadlocked, with Ukraine refusing Putin's calls to cede defended territories since 2022.

Separate Ukraine-Russia ceasefires

Putin had declared a unilateral two-day halt on Friday and Saturday for Victory Day - Russia's most cherished national observance.

Kyiv dismissed the holiday-limited truce as insufficient, urging an indefinite ceasefire starting two days prior, which Moscow disregarded.

Russia's defense ministry reported intercepting 264 Ukrainian drones early Friday, with Moscow Mayor Sergei Sobyanin noting attacks on the capital and drone strikes in the Urals' Perm region.

Ukraine claimed hits on a Perm oil refinery for the second consecutive day and another facility in Yaroslavl, while Zelensky reported ongoing Russian assaults on Ukrainian sites overnight.

Russia cautioned that any Ukrainian interference with the Red Square parade on Saturday would provoke a major missile response on Kyiv, advising diplomats to leave the Ukrainian capital if needed.

The Soviet Union suffered 27 million deaths in World War Two, including millions from Ukraine, ultimately defeating Nazi forces in Berlin, where Hitler took his life and the Soviet Victory Banner flew over the Reichstag in May 1945.

This year's Moscow parade, typically showcasing intercontinental ballistic missiles and tanks, will feature no military hardware.

The Kremlin announced heightened security for Putin amid potential Ukrainian threats during his speech at the event, followed by meetings with leaders from Laos, Malaysia, and Slovakia.

Russian forces have engaged in Ukraine for over four years now - exceeding the Soviet role from 1941 to 1945 in what Russians call the Great Patriotic War.

Controlling roughly 19.4% of Ukraine, Russia's progress has slowed this year, capturing only 700 square kilometers in the first four months per pro-Ukrainian analyses.