Zelensky Unveils New Peace Proposal, Uncertain Whether Russia Will Accept

Ukrainian President Volodymyr Zelensky recently unveiled a revised draft peace plan jointly developed with the United States, emphasizing that it is Kyiv's most significant effort to date to end the war with Russia.

The plancomprises 20 wide-ranging provisions, including security guarantees aimed at preventing future Russian aggression and commitments to rebuild the war-torn nation.

However, Zelensky admitted that Ukraine and the U.S. still have not reached full consensus on "territorial issues," a major sticking point in peace negotiations.

The revised draft will next be handed over to Russia by the U.S., though it remains unclear whether Moscow will consider Ukraine's proposals on key contentious points. 

At a press conference, Zelensky expressed satisfaction with the consensus Kyiv and Washington have largely achieved on guarantees to ensure that Russia will not invade Ukraine again.

These guarantees include maintaining a standing army of 800,000 during peacetime with Western financial support and agreeing to allow Ukraine to join the European Union.

They also include a bilateral security agreement between Ukraine and the U.S., as well as continued European support for Ukraine's defense systems by land, sea, and air. The security agreement with the U.S. would need to be ratified by Congress before entering into force. 

Some European countries have also expressed a willingness to deploy peacekeeping forces to Ukraine, which Russia strongly opposes.

Ukraine and the U.S. also agreed on several measures to prevent renewed conflict, such as establishing oversight mechanisms and signing a mutual non-aggression pact.

The peace plan also promises that all prisoners of war and detained civilians must be released and returned home after aceasefire is concluded, and that Ukraine will restore democratic elections swiftly once the agreement takes effect.

The central conundrum lies in the future of Ukraine's four eastern regions, the most complex and challenging aspect of peace talks.

A previous peace proposal drafted by Russia and the U.S. called for a complete withdrawal of Ukrainian forces from the currently controlled Donetsk region. Kyiv had unequivocally rejected this, stressing that Ukraine would never unilaterally cede territory that Russian forces had never occupied.

In a new compromise, Ukraine has proposed to establish an internationally monitored, demilitarized buffer zone similar to the 38th parallel between North and South Korea in theDonetsk. But the condition to withdraw Ukrainian forces is if Russian forces also withdraw a similar distance, including ceding some territory they currently control. 

Another major point of contention involves the Russian-occupied Zaporizhzhia, the largest nuclear facility in Europe with a capacity of six gigawatts. Kyiv sees it as crucial for post-war reconstruction and insists it cannot be handed over. Zelensky stated that the U.S. had proposed a joint control of the plant by Washington, Kyiv, and Moscow with shared revenues, but Ukraine rejected the idea of energy deals involving Russia.

The revised peace plan includes provisions that direct financial gains toward U.S. interests post-war, such as establishing a Ukrainian development fund to invest in high-potential sectors like technology, data centers, and artificial intelligence. Companies such as BlackRock, a major asset manager closely associated with the U.S. government, would receive special licenses to engage in energy and other critical sectors during reconstruction, alongside mining and natural resource extraction rights. 

Furthermore, the document mentions setting up multiple funds to facilitate Ukraine's post-war recovery and reconstruction, with a target to raise to $800 billion.  

The Kremlin reported that Russian President Vladimir Putin has been briefed on the ongoing negotiations.

However, Foreign Policy Advisor Yuri Ushakov dismissed the new U.S.-Ukraine peace proposal as lacking constructive elements.

Analysts suggest that Ukraine's compromise proposals concerning territorial arrangements and control over the nuclear plant are likely to be rejected by Russia. （Related： Exclusive | US Political Scientist Andrew Nathan Discusses Taiwan's relations with U.S. and China ｜ Latest ）

Moscow has reiterated its goal of complete military control over the Donetsk region, with Putin emphasizing during the year-end press conference that no concessions will be made and dismissing any possibility of returning the nuclear plant to Ukraine.