U.S. President Donald Trump said on Friday there is a "very good chance" the war between Russia and Ukraine can end after "productive" discussions with Russian President Vladimir Putin on Thursday.

Russia’s stalling contrasted with Trump’s rush for a valuable breakthrough as his trade policies set off stock market slumps and cast a cloud over the economy. “I think we’re going to be in very good shape to get it done. We want to get it over with,” Trump said at the Oval Office on Thursday, in an outburst of optimism that jarred with reality.

The US president said he also asked Putin to spare the lives of thousands of Ukrainian troops "surrounded" by Russian military.