February 24, 2025 - 10:00am

In response to US President Donald Trump’s accusation that Volodymyr Zelensky is a “dictator”, the Ukrainian leader has now announced that he would be willing to give up his position “if it is for the peace of Ukraine” or if it helps earn Nato membership for his country.

This might be a courageous move, but it is also the latest sign that peace negotiations are not going in Ukraine’s favour. Zelensky initially refused to accept America’s terms for a minerals deal on the grounds that Washington’s demand for around $500 billion’s worth did not reflect, in his view, what the US had provided in aid, and there were no security guarantees attached.

However, it appears as though both countries are inching closer to a deal, with the Speaker of the Ukrainian Parliament Ruslan Stefanchuk stating that Kyiv will be working in earnest to reach an agreement this week. Kyiv will likely have to accept some unfavourable terms, especially after rumours that US negotiators threatened that, unless it signs, Ukraine will be deprived of the Starlink terminals which are vital to its secure communications.

US Treasury Secretary Scott Bessent may have been trying to soothe Ukrainian concerns with his Financial Times op-ed on Saturday, which repeatedly referred to “partnership”. Yet, for all his smooth promises, it is a partnership creating a fund “where the US will have economic and governance rights in those future investments”, and where the US has such influence that it can stop “corruption and insider deals” as well as any country that did not contribute to Ukraine’s defence benefiting from it.

This week, French President Emmanuel Macron and British Prime Minister Keir Starmer will be making separate visits to the White House to sell Trump on a plan to deploy up to 30,000 European peacekeepers as a “reassurance force” in Ukraine post-ceasefire. The proposal would not include any US peacekeepers, but would likely require the use of US air defence systems in neighbouring countries as well as American intelligence and logistical assistance. According to the Wall Street Journal, Starmer is not intending to formally request US military assistance yet. However, the plan may well earn Trump’s approval, meeting American demands that no US troops be sent to Ukraine as part of any security guarantees.

What to make of Zelensky’s offer to fall on his sword? Perhaps the more important question is when. Resigning and calling elections now would mean all the practical difficulties of heading to the polls during war. But doing so after a ceasefire or peace agreement would mean martial law could have ended anyway. It is likely bravado on the former showman’s part, the ultimate proof that he is no dictator. What’s more, the prospect of trading his career for Ukraine’s Nato membership crosses one of the Kremlin’s red lines, setting the scene for Moscow to refuse such an arrangement and show that it — not Kyiv — is the real impediment to any deal.

Perhaps the most worrying sign for Kyiv came yesterday when Russian Deputy Foreign Minister Sergey Ryabkov indicated that Moscow and Washington will follow up on last week’s bilateral talks in Riyadh, with departmental directors holding meetings at the end of this week to make “tangible progress”. While the Saudi talks could have been dismissed as sounding out Moscow or a feint to perhaps force Kyiv to sign the minerals agreement or show Trump was serious about bringing the war to a close, it seems that the US administration is serious about continuing to sideline Ukraine and pursue this avenue to end the conflict. Meanwhile, Moscow claims that preparations for a Trump-Putin meeting are underway.

With the US clearly prioritising relations with Russia over Ukrainian sovereignty and listening to Moscow’s gripes at a succession of cosy summits, any eventual peace deal is likely to favour the Kremlin. For all Zelensky’s self-sacrifice, the prospect of Nato membership remains unlikely. The Kremlin has already emphatically rejected earlier US proposals that Ukraine could accede to Nato after an interval of 20 years. EU membership, European security guarantees and European peacekeepers are all likely to form the contours of a deal, but the US will likely distance itself.

This week could prove pivotal in negotiations, and the signs are not pointing in Ukraine’s favour.


Bethany Elliott is a writer specialising in Russia and Eastern Europe.

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