MOSCOW (Reuters) -Russian President Vladimir Putin said on Friday that Moscow had received the U.S. proposals for peace in Ukraine and that the plan could be the basis of a peaceful resolution of the conflict.

Russian President Vladimir Putin on Friday cautiously welcomed a U.S. proposal to end Moscow’s nearly four-year war in Ukraine, saying it “could form the basis of a final peace settlement.”

According to news reports, Ukraine would have to cede more land to Russia—including all of Donetsk and Luhansk provinces—than the Russians have been able to conquer to this point.