By Andrius Sytas and Tom Balmforth TALLINN, May 18 (Reuters) - Russian President Vladimir Putin has few good options in Ukraine with his armed forces unable to advance significantly on the battlefield while Western sanctions are chipping away at his resources,

Russian President Vladimir Putin on Saturday said he believes the Ukrainian conflict is nearing its end after he oversaw a military parade on Red Square commemorating the defeat of Nazi Germany in World War II — a show that didn't include heavy weapons for the first time in nearly two decades.

The Russian leader is walking a tightrope: acknowledging public discontent while offering no indication that he might give up on his demands.

Russian President Vladimir Putin has claimed that what he called the world’s most powerful missile system — dubbed “Satan II” by NATO — will be ready for “combat duty” by the end of the year after a successful test on Tuesday.

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The Russian leader addressed the potential for talks with the European Union after rounds of U.S.-led peace talks that have so far failed to end the conflict.

The Russian president is facing pressure not only from a stalemate on the battlefield but also from a battered economy that is fueling discontent.

Carefully chosen words from the Kremlin rarely pass unnoticed in Europe. Last week, two separate statements from Moscow immediately triggered speculation among analysts monitoring the war in Ukraine.