Volodymyr Zelensky

Dec. 24 (UPI) — Ukrainian President Volodymyr Zelensky unveiled a 20-point peace plan hammered out in negotiations in Miami over the weekend that provides strong NATO-style security guarantees in exchange for land concessions. He said the plan was now being reviewed by Moscow.

Detailing the plan on Tuesday, Zelensky said “the main framework” included affirmation of Kyiv’s sovereignty, a non-aggression pact, a means to monitor the final border, Ukraine‘s non-nuclear status and limits on its military to 800,000 troops, The Kyiv Independent and RBC-Ukraine reported.

The plan also contains Ukraine-U.S.-Europe security guarantees, U.S.-Ukraine security guarantees, and a 15-year plan for Ukraine’s recovery and economic development involving raising as much as $800 billion.

European Union membership for Ukraine will form part of the security guarantees.

The document, which emerged from a 28-point-plan drafted by the White House and the Kremlin and first floated by President Donald Trump in mid-November, was expected to be delivered to the Kremlin by U.S. officials later Wednesday.

An immediate cease-fire comes into force as soon as Ukraine, the United States, Europe, and Russia sign — with Ukraine commiting to hold elections as soon as possible afterward. Who would sign on behalf of Europe was yet to be decided.

“We have made significant progress toward finalizing the documents,” Zelensky said.

However, Kyiv wants to put the plan to the people of Ukraine in a referendum which would take at least two months.

The main sticking point of territory remains with the plan calling for the frontlines in Donetsk, Luhansk, Zaporizhzhia and Kherson regions to form the de facto border, while Russia will pull out of Ukraine’s Dnipropetrovsk, Mykolaiv, Sumy, and Kharkiv regions.

The United States has proposed a compromise acceptable to both sides under which Ukrainian forces pull out of areas of its Donetsk region that Kyiv still controls in favor of a demilitarized “free economic zone” that Russian forces would not advance into.

“We are in a situation where the Russians want us to withdraw from Donetsk Oblast, while the Americans are trying to find a way for us not to withdraw because we are against withdrawal,” Zelensky said.

“We consider a free economic zone a potential option for a sovereign state to choose such a path. We fought for a single word — ‘potential.’ We believe that such potential economic zones can exist,” he added.

“If all regions are included and if we remain where we are, then we will reach an agreement. That is why it says ‘potential zones’ here. But if we do not agree to ‘remain where we are,’ there are two options: either the war continues, or something will have to be decided regarding all potential economic zones.”

Zelensky’s mention of other potential economic zones refers to his preferred solution to the other big outstanding issue of the Zaporizhzhia Nuclear Power Plant, which has been occupied by Russian forces since shortly after their full-scale invasion in 2022.

Ukraine opposes a U.S. plan under which Ukraine, Russia and the United States share equal control with Washington having overall jurisdiction, with Kyiv instead pushing for a U.S.-Ukraine partnership under which they would split the electricity generated 50-50.

Dec. 19 (UPI) — U.S. Secretary of State Marco Rubio said Friday that U.S. negotiators have made “progress” attempting to end the war between Russia and Ukraine, but ultimately “it’s not our war.”

The Russian invasion of Ukraine was one of several global issues Rubio addressed during his 2-hour year-end news conference with reporters. He said despite the progress in negotiations, “we have a ways to go” to end the nearly four-year war in eastern Europe.

“And obviously, the hardest issues are always the last issues,” he said during the briefing.

“Maybe that happens this week, maybe that happens next month, maybe that’s not ready for a few months,” Rubio said of a deal.

His comments came ahead of a weekend meeting in Miami between U.S. and Russian negotiators. He said that while the United States is trying to work on a deal that would make both parties happy, he’s not willing to force a plan.

“It’s not our war. It’s a war on another continent.

“We can’t force Ukraine to make a deal. We can’t force Russia to make a deal. They have to want to make a deal.”

White House officials said they were optimistic this weekend’s meeting would result in an agreement. Previous talks resulted in about “90%” consensus on terms, the officials told The Hill.

Those terms included a multi-national force deployed to Ukraine to respond to acts of aggression against the country in the future. Earlier this week, European leaders pledged to provide military support to Ukraine in protection against Russia, however Ukrainian President Volodymyr Zelensky conceded over the weekend his country may have to give up its dream of joining NATO to end the war.

As peace talks have gone on, U.S. negotiators have put pressure on Ukraine to make more concessions to Russia, which has remained staunch in its demands, which including giving up land. Politico reported that the Trump administration believes Russia will accept EU membership for Ukraine as well as offers of mutual defense from the United States and European countries.

Dec. 19 (UPI) — Russian President Vladimir Putin said he was determined to continue the war in Ukraine until his conditions are met, which include taking Ukrainian territory.

Putin spoke at his annual press conference and touted Russia’s recent gains in the region.

“The strategic initiative is completely in the hands of the Russian forces,” Putin said. He added that Russia is “ready to end the conflict peacefully” if Ukraine cedes large areas of its eastern territories.

Ukrainian President Volodymyr Zelensky has said Ukraine won’t give up its land, which is set by the country’s constitution.

Russia has also demanded that Ukraine give up its bid to join NATO and said that if NATO members sent troops, Russia would view them as “legitimate targets.”

“The ball is entirely in the court of our Western opponents,” he said, adding that Russia had agreed to compromises proposed by the United States in its peace plan negotiated by the President Donald Trump administration.

Earlier this week, Zelensky was asked if Kyiv would give up its attempts to join NATO. He said Ukraine’s “position remains unchanged.”

“The United States don’t see us in NATO, for now,” he said. “Politicians change.”

European leaders have agreed to continue funding Ukraine in its fight against Russia with a two-year, $105 billion loan for munitions in the ongoing war.

European leaders couldn’t agree on their first choice to arm Ukraine using frozen Russian state assets to back the loan.

The plan to use frozen Russian assets fell apart in the final moments after Belgium pushed back, fearful that it would be at legal and financial risk. The bank holding the assets is in Belgium, and Russia has sued to block the plan.

European leaders announced Thursday that they will instead use money from the EU budget. The new plan could be more costly and difficult to mobilize.

Dec. 15 (UPI) — British Prime Minister Keir Starmer and German Chancellor Friedrich Merz were set to meet with Ukrainian President Volodymyr Zelensky and U.S. officials in Berlin on Monday in an effort to reach a consensus on what any peace deal with Russia should look like.

The European leaders, along with French President Emmanuel Macron, who has yet to confirm his attendance, will seek to negotiate an alternative to the U.S.-Russia plan currently on the table with a stronger deal for Ukraine with better protections for its security.

The talks will also attempt to keep afloat an EU-brokered agreement to loan Ukraine some of the $246.7 billion of Russia’s assets frozen in European banks and other institutions to help it defend itself and take “forward peace talks from a position of strength,” amid mounting opposition to the plan.

The meeting follows five hours of talks on Sunday between Zelensky and U.S. Special Envoy Steve Witkoff and President Donald Trump‘s son-in-law, Jared Kushner, at the Federal Chancellery that Witkoff said were productive and would resume on Monday.

“Representatives held in-depth discussions regarding the 20-point plan for peace, economic agendas, and more. A lot of progress was made, and they will meet again tomorrow morning,” Witkoff posted on X on Sunday evening.

Zelensky was reported to have dropped demands for NATO membership, if it was what was required to end the war, in exchange for a bilateral defense agreement with the United States similar to an Article 5-like guarantee, along with other guarantees from Ukraine’s European partners.

Article 5 is a cast-iron guarantee, a collective defense principle enshrined in NATO’s constitution under which an armed attack on one member is considered an attack on all members and triggers an obligation for each member to come to its defense.

Following the initial discussions on Monday, Merz’s spokesman confirmed the group would be widened to include “numerous European heads of state and government, as well as the leaders of the EU and NATO.”

The diplomatic focus will shift to Brussels on Thursday when the leaders of all 27 EU nations converge on the Belgian capital for a meeting of the European Council with Ukraine and European security topping the agenda.

Council President Antonio Costa said the summit would address how best to continue defending Europe’s interests and how to “strengthen Ukraine’s negotiating position,” a key element of which necessitated “increased pressure on Russia.”

Costa said that having already committed to providing for Ukraine’s urgent financial needs for 2026-2027, including funding for its military and defense, it was now time to decide how to implement it and that leaders must keep talking on Thursday until an agreement was reached.

Earlier this month, European Commission President Ursula von der Leyen unveiled two options — both controversial — to provide Ukraine with $105.8 billion of the $158.6 it is estimated it will need in the two years through 2027 to keep the country running and being able to continue fighting Russia.

The so-called “reparations loan” option involving using frozen Russian assets only requires a two-thirds majority of EU states to vote for it. The second option under which the EU would use its budget to go borrow on the international capital markets is more problematic because it could be blocked by a single state.

Hungary and Slovakia have indicated they are opposed to either route, while Belgium, home to Euroclear, the clearing house where the majority of Russia’s frozen assets are held, has expressed strong worries that it could be taken to court by Russia were the frozen assets tapped or that it may scare off foreign investors.

Russia has protested that appropriating its assets amounts to theft but the EU says that is not the case because there was nothing to preclude Russia from reclaiming the funds in future — after it has paid war reparations to Ukraine.

Ukraine is set to run out of money early in the New Year.

Dec. 14 (UPI) — Ukrainian President Volodymyr Zelensky said Sunday that his country may give up its dreams of NATO ascension, at least temporarily, for an end to the war and security guarantees from the United States and Europe, reports said.

Zelensky, who has said that NATO ascension is unlikely because of Russian opposition, held that Ukraine would still seek security guarantees similar to the bloc’s Article 5 clause for mutual protection for members under attack.

His comments were made to journalists in a private WhatsApp chat and were reported by The New York Times and Financial Times.

“This is already a compromise on our part,” Zelensky said.

German Chancellor Friedrich Merz will host talks Sunday between Zelensky, as well as Steve Witkoff and President Donald Trump‘s son-in-law, Jared Kushner, at the Federal Chancellery.

Zelensky added that he has not yet received a response from the Trump administration on revised peace proposals sent last week, the reports said.

Under that peace plan, The New York Times reported, Ukraine said any decision to give up Ukrainian territory would need to be put to a vote and it removed a measure put in place by American negotiators preventing it from ever joining NATO, indicating that Zelensky holds on to hope Ukraine could join the defense alliance in the future.

Yuri Ushakov, the foreign policy adviser to President Vladimir Putin, said on state television Sunday that Russia would have “sharp objections” if the United States adopted any Ukrainian or European suggestions for the plan.

Both Ukraine and Russia have seemingly rejected a proposal from the Trump administration that would create a sort-of demilitarized zone in parts of eastern Ukraine that it still holds, requiring only Ukrainian troops to withdraw from the buffer area.

Zelensky said Sunday he did not consider it fair that Russian troops were not also asked to withdraw deeper into the occupied territories.

“We stand where we stand,” he said. “That is precisely a ceasefire.”

Dec. 12 (UPI) — Russia’s Central Bank has filed suit against the Belgian bank that holds about $217 billion in frozen Russian state assets to stop the European Union from using that money to make a large loan to Ukraine.

Most of Moscow’s frozen cash is held in Belgian bank depository Euroclear. The EU wants to extend a loan to Ukraine, which is running out of money to fight the Russian invasion of the country. But Russia wants to block that loan and accuses the EU of theft.

The Central Bank filed the suit in the Moscow City Arbitration Court as a warning to the EU. It said in a statement that Euroclear was participating in “unlawful activities” and that it filed the suit because the EU’s executive was “considering proposals for direct or indirect use of Bank of Russia assets without authorization.”

“A Moscow court cannot force Euroclear to comply, and any ruling would be unenforceable abroad,” said Alexandra Prokopenko, a former Russian Central Bank official and a fellow at the Carnegie Russia Eurasia Center, told The New York Times.

“But it is not meaningless: It creates formal documentation of Russia’s legal claims and serves as a political signal ahead of international litigation.”

Prokopenko also said an investment protection agreement exists between Russia, Belgium and Luxembourg that requires any loss to be compensated. That means Moscow could use that in future international arbitration against Belgium. So Belgium is worried about being left responsible in the future.

EU leaders will discuss the potential loan at a meeting Thursday in Brussels of leaders of all 27 member states. Belgium’s Prime Minister Bart de Wever was in London to meet with British Prime Minister Keir Starmer on Friday. The frozen assets were on the agenda, British officials have said.

European countries have been pushing Belgium to agree to the plan, but it’s trying to convince other countries to share the risk. Although most of Russia’s cash is at Euroclear, but smaller amounts are held in other European countries.

The loan plan would use the frozen assets to back a $106 billion loan to Ukraine, meted out over the next two years. Ukraine would only have to pay it back if Russia pays reparations.

Ukraine’s President Volodymyr Zelensky said about the funds, “It’s only fair that Russia’s frozen assets should be used to rebuild what Russia has destroyed — and that money then becomes ours.”

The loan plan could also cause a clash with Washington. In the U.S.-created peace plan that is still being negotiated, that frozen money was to be used to help rebuild Ukraine. But EU officials argue that if Ukraine falters financially, it will be in a weakened position in peace negotiations.

Using the frozen funds could “destabilize the international financial system,” Euroclear chief executive Valérie Urbain said.

“Belgium is a small economy,” Veerle Colaert, professor of financial law at KU Leuven University, told the BBC. “Belgian GDP is about [$661.5 billion] — imagine if it would need to shoulder a [$216.5 billion] bill.” She also said the loan may violate EU banking rules.

“Banks need to comply with capital and liquidity requirements and shouldn’t put all their eggs in one basket. Now the EU is telling Euroclear to do just that,” Colaert said.

“Why do we have these bank rules? It’s because we want banks to be stable. And if things go wrong it would fall to Belgium to bail out Euroclear. That’s another reason why it’s so important for Belgium to secure water-tight guarantees for Euroclear.”