Vance pointed to two main issues for Russians and Ukrainians to resolve the conflict

"We've basically identified two major issues, one for the Ukrainians, one for the Russians… They're about security guarantees and where the front lines are in Ukraine," Vance explained.

According to the US Vice President, the first fruits of the agreement will appear only when these two issues can be resolved.

At the same time, Vance expressed hope that the conflict in Ukraine will be resolved in the next six months. He also stressed that Washington is committed to a diplomatic solution to the conflict, but understands that it is impossible to end it quickly.

The US Vice President also added that the White House will "play an active role in ensuring security guarantees for Kiev," although it will not send its troops to Ukraine.