Russian President Vladimir Putin on Monday declared a three-day ceasefire in the war with Ukraine next month to mark the 80th anniversary of World War II Victory Day.

The Kremlin said the 72-hour ceasefire would run from the beginning of May 8 and last through the end of May 10.

“All military actions are suspended for this period,” the Kremlin said in a statement. “Russia believes that the Ukrainian side should follow this example.”

“In the event of violations by the Ukrainian side, Russia’s armed forces will give an adequate and effective response,” the statement said.

U.S. Secretary of State Marco Rubio said Sunday struck a somber tone for a major peace agreement between Ukraine and Russia, telling NBC’s “Meet the Press” that a deal is “still not there.”

“We’ve made real progress, but the last couple steps of this journey were always going to be the hardest,” Rubio said. “It needs to happen soon. We cannot continue to, as I said, to dedicate time and resources to this issue if it’s not gonna come to fruition.”

“The last week has been about figuring out how close are these sides really, and are they close enough that this merits a continued investment of our time as a mediator in this regard,” he added.

Fox News Digital’s Anders Hagstrom and Fox News’ Manahil Ahmad contributed to this report.