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From the article: "If Russia does not agree to the ceasefire, the European Union has threatened to impose more sanctions on Moscow, the senior U.S. official and another senior European official told Reuters. The sanctions package would target Russia's shadow fleet, the European official said."

Sounds like offers are on the proverbial table, albeit not the showbiz one. More sanctions or maybe not. Ceasefire or maybe not.

"...the European Union has threatened...." So, don't threaten. Just do it. What is the "European official" speaking for the EU waiting for?

A time line of sorts...
"...the group of leaders — mostly from Europe — had agreed on four things. The steps toward peace would: keep aid flowing to Kyiv and maintain economic pressure on Russia to strengthen Ukraine’s hand; make sure Ukraine is at the bargaining table and any peace deal must ensure its sovereignty and security; and continue to arm Ukraine to deter future invasion."
Source: UK’s Starmer says Europe is at ‘crossroads in history’ as leaders agree to steps to Ukraine peace AP, 3 March 2025.
And then, ten days ago and nine days after the 24-hour ultimatum, "Vladimir Putin has been warned by European leaders that he has 24 hours to accept a 30-day ceasefire or he will face a raft of new sanctions as Starmer said they were 'calling Putin out'."
Source: Keir Starmer issues bold new threat to Putin and says he has Trump's support Mirror UK, 10 May 2025.
And then, two days ago, "Starmer, Macron, Merz, and Tusk, after a meeting in Kyiv with Zelensky, presented a united front...."
Source: Starmer says Europe and Trump ‘calling Putin out’ over Ukraine truce Independent UK, 11 May 2025
From well over a year ago, one heard "French President Emmanuel Macron said Monday that sending Western troops on the ground in Ukraine is not 'ruled out' in the future...."
Source: Putting Western troops on the ground in Ukraine is not ‘ruled out’ in the future, French leader says AP, 26 February 2024.

So? Do it. That 24-hour ultimatum is past. Do it. Do something other than presenting "a united front" and "threaten."

So what do we think they will do? Based on Macron's 2024 nothing "is ruled out," apparently nothing is ruled out, and then nothing is ruled out and it is sure that nothing will be ruled out.

But Reuters today added: "The senior U.S. official said Washington did not expect an announcement about Moscow's plans until early Thursday morning."