Moscow: Russian President Vladimir Putin has proposed a trilateral summit with US President Donald Trump and Chinese President Xi Jinping next month to discuss the Ukraine conflict, aiming to negotiate a peace deal favourable to Moscow, The Wall Street Journal (WSJ) reported.

The proposal reflects an effort by Putin to capitalise on improving relations with President Trump, a move that has raised concerns in Ukraine and among Washington's European allies, especially the lack of representation from Ukraine, the report said.

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Citing a former Russian intelligence official who briefed on the matter, WSJ reported that Putin initially raised the idea of a trilateral meeting during an October 9 telephone conversation with Trump. The same call resulted in an agreement allowing the US to purchase Russian diesel fuel and facilitate its distribution on global markets.

Kremlin spokesperson Dmitry Peskov confirmed to WSJ that discussions about a possible meeting were underway.

"There is no clear understanding yet regarding the meeting itself or its potential agenda, although all three parties acknowledge the hypothetical possibility of such a meeting taking place," Peskov told WSJ.

While a senior US official told The Wall Street Journal that Trump has not formally agreed to the summit, the official indicated the US President might be open to the proposal given his push to resolve the war.

Sources familiar with the negotiations informed The Wall Street Journal that the Kremlin suggested hosting the trilateral talks alongside the upcoming Asia-Pacific Economic Cooperation (APEC) summit, scheduled for November 18 and 19 in the southern Chinese tech hub of Shenzhen.

Sources close to recent discussions between Moscow and Beijing told The Wall Street Journal that Russian diplomats presented the proposal to Chinese officials, who signalled they would not object as long as Trump agreed to participate.

On Sunday, Trump claimed that negotiations to end the Russia-Ukraine conflict were making "great progress", while defending his administration's diplomatic approach towards Moscow and accusing Ukrainian President Volodymyr Zelenskyy of failing to secure a better deal two years ago.

In a post on Truth Social, Trump described his strategy to strike a deal between the warring nations as a simple one which he said includes ensuring that Russia is not, "foolishly", driven away from the bargaining table.

Trump said that the diplomatic process is making great strides, touting that he can sign the document that involves ongoing hostage negotiations "anytime that I want."

"My decision on Russia is a very simple one. I am in the process of negotiating Peace in the war between Russia and Ukraine, and don't want to do anything that will drive, foolishly, Russia away from the bargaining table. Great progress is being made, and that includes current hostage negotiations! Signing that document at this time will do that, and I can sign it later, or any time that I want!" Trump wrote.

Earlier this month, Russian President Vladimir Putin and US President Donald Trump held a "very substantive" and friendly telephone conversation lasting an hour and a half, during which they discussed economic initiatives, energy supplies and international issues, with both leaders potentially set to meet in person on the sidelines of the upcoming APEC summit in China, Russian Presidential Aide Yury Ushakov said on Saturday, as reported by TASS.

Speaking to reporters here, Ushakov said the two leaders had expressed satisfaction with the communication channels functioning between their countries and discussed preparations for major economic initiatives, including potential Russian petroleum product supplies to the United States and global markets.

"Putin and Trump had a "very substantive", even friendly conversation that lasted an hour and a half," Ushakov said, according to TASS.

On the possibility of a face-to-face meeting, Ushakov said the two presidents had not discussed specific dates but could meet during the upcoming Asia-Pacific Economic Cooperation (APEC) summit in China, provided both attend.

"An important international event is coming up in China - the APEC summit. At least for now, both the Russian and US leaders are interested in attending. Accordingly, if both leaders are at the same international venue, I assume they will find an opportunity to meet, shake hands and talk," Ushakov said, as quoted by TASS.

The Russian presidential aide added that Putin valued the attention the US leadership was devoting to dialogue with Moscow despite its domestic agenda and involvement in Middle Eastern affairs.

Energy cooperation emerged as a key aspect of the conversation, with Ushakov confirming that the two leaders discussed potential Russian petroleum product supplies to the United States and international markets.

Following the conversation, Trump announced on Truth Social that Russia would immediately supply more than 300,000 tonnes of diesel fuel to American and global markets, followed by additional shipments in the coming months.

Notably, Chinese President Xi Jinping paid a state visit to the United States from September 23 to 25, during which he held what Chinese Foreign Minister Wang Yi called a "candid and in-depth exchange of views with US President Donald Trump in a friendly atmosphere of mutual respect" on strategic and overarching issues concerning China-US relations and the broader global landscape.