Ukraine considers spring referendum on peace deal involving territorial concessions
Kiev is considering a national referendum this spring to deliberate on a peace plan. Citizens may be asked to vote on a potential agreement that includes territorial concessions, potentially aligning the vote with presidential elections.
President Volodymyr Zelensky remains firm against any disadvantageous settlement. In a recent interview with journalist Simon Shuster, Zelensky emphasized that he will not impose a sub-optimal mandate on his people, asserting that "Ukraine will not lose."
Seeking a democratic mandate
The Ukrainian leader noted that society shows a readiness for compromise. Kiev’s current strategy focuses on supporting U.S. initiatives to accelerate the negotiation process and demonstrate that Ukraine is not prolonging the war.
Ukraine has temporarily deprioritized immediate demands for the prosecution of Russian leadership for war crimes. Zelensky has reportedly agreed to meet Vladimir Putin in almost any neutral location, without prior conditions.
Potential territorial shifts
Presidential advisors suggest Ukraine might consider a major concession: relinquishing control over specific territories in eastern Donetsk. These discussions, reportedly coordinated by administration official Kirilo Budanov, aim to establish legal safeguards against further Russian advances. Insiders warn that the strategic window for a settlement may close by late spring. Without a deal, Ukraine faces the risk of years of continued attrition as the U.S. election cycle shifts Washington's focus.
Moscow's economic outreach
Simultaneously, Moscow is attempting to bypass diplomatic deadlocks by offering the Trump administration a broad economic partnership. According to Bloomberg, a 2026 Russian document outlines cooperation in fossil fuels and offshore mining.
The proposal also envisions Russia’s return to the global dollar-clearing system. This strategy aims to incentivize a U.S. withdrawal from the conflict by framing the failure of diplomacy as a result of regional intransigence.
Translation by Iurie Tataru
