Russia’s ruble strengthened to its highest level in more than eight months against the U.S. dollar on Monday, buoyed by hopes that upcoming talks between U.S. President Donald Trump and Russian President Vladimir Putin could lead to progress on ending the war in Ukraine and a warming of relations between Washington and Moscow.

It was not clear whether Ukraine would sign off on the agreement for a 30-day halt on strikes on energy, since Kyiv agreed last week to a more extensive U.S.-proposed ceasefire.

U.S. President Donald Trump will speak with Russian President Vladimir Putin on Tuesday in an attempt to convince his counterpart to accept a ceasefire in Russia's war with Ukraine and move toward a more permanent end to the three-year conflict.