BERLIN (AFP) - German Foreign Minister Frank-Walter Steinmeier said Saturday it would take "two or three days" to know the fate of a new Franco-German push for peace in eastern Ukraine.

"If this path is feasible, it will be decided in the next two or three days," Steinmeier told German television on the sidelines of the Munich Security Conference, where the focus was on a peace plan put to Moscow and Kiev by Chancellor Angela Merkel and French President Francois Hollande.

Steinmeier stressed it was "still too soon" to speculate on the success of the diplomatic initiative, which Hollande has described as "one of the last chances" to halt the 10-month-old conflict.

Russian President Vladimir Putin and Ukrainian leader Petro Poroshenko will discuss the latest proposal in a telephone call with Merkel and Hollande on Sunday.

"We hope to succeed in making some progress," Steinmeier said, adding that the crisis was "at a crossroads".