KYIV - Ukraine is preparing plans to hold a presidential election alongside a national referendum on a potential peace agreement with Russia, Financial Times reported Wednesday, citing Ukrainian and Western officials familiar with the matter.

The move comes amid pressure from the United States to expedite negotiations to end the conflict.

"The Americans are proposing that the parties end the war by the beginning of this summer, and they will likely exert pressure on the parties in line with this timetable," Ukrainian President Volodymyr Zelensky told reporters last week.

According to the FT report, Ukraine's parliament would introduce legal changes in March and April to allow voting under wartime conditions. The country remains under martial law, which currently prohibits national elections.

Zelensky intends to announce the election and referendum plans on Feb 24, the fourth anniversary of the start of the Ukraine-Russia conflict, the report said, citing officials involved in the planning.

The second round of US-brokered talks between Russia and Ukraine concluded in Abu Dhabi on Thursday. Both sides agreed to a large-scale prisoner exchange but failed to achieve substantive breakthroughs on core issues such as territorial arrangements and a ceasefire.