Related...
... The timing of Putin's speech was clearly intended to preempt the Swiss summit, billed as a "peace conference" despite Russia's exclusion, where Zelenskiy seeks a show of international support for Kyiv's terms to end the war.
"The conditions are very simple," Putin said, listing them as the full withdrawal of Ukrainian troops from the entire territory of the Donetsk, Luhansk, Kherson and Zaporizhzhia regions in eastern and southern Ukraine.
Russia claimed the four regions, which its forces control only partially, as part of its own territory in 2022, an act rejected by most countries at the United Nations as illegal.
Moscow also seized and annexed Ukraine's Crimea peninsula in 2014.
"As soon as they declare in Kyiv that they are ready for such a decision and begin a real withdrawal of troops from these regions, and also officially announce the abandonment of their plans to join NATO -- on our side, immediately, literally at the same minute, an order will follow to cease fire and begin negotiations," Putin said.
"I repeat, we will do this immediately. Naturally, we will simultaneously guarantee the unhindered and safe withdrawal of Ukrainian units and formations." ...
So, Pres Putin wants Ukraine to give up Ukraine's sovereign territory that Russia only partially occupies,, and also promise not to join NATO, in order for Pres Putin to agree to a cease fire.
Sounds to me like Pres Putin wants a cease-fire to buy time to fully occupy and control the lands seized from a sovereign Ukraine and prepare for a subsequent invasion of the rest of sovereign Ukraine (that's why the "abandonment of NATO part is required).