Kremlin: Russia and France were not able strike a deal at this stage

Russia and France failed to strike a deal at this stage but French President Emmanuel Macron's proposals for de-escalating tensions contained rational grains that can be the basis for further work, a Kremlin spokesperson said on Tuesday, per Reuters.

Additional takeaways

"Russian forces will return to their bases in Russia after Belarus drills."

"Putin did not give Macron a precise date for when Russian forces would leave Belarus after drills."

"Media reports that Putin promised Macron not to carry out new military initiatives near Ukraine are not right."

"A lot will depend on how Macron's talk with Ukraine and NATO goes."

"De-escalation around Ukraine is needed."

Market reaction

These comments don't seem to be having a significant impact on risk sentiment. As of writing, the S&P Futures were trading flat on the day.