Russian President Vladimir Putin has delivered a new address to members of his security council, confirming Moscow’s support for what he called a “modernised version” of the peace proposals presented earlier this year by U.S. President Donald Trump. The Kremlin has now signalled its readiness to adopt the updated American framework as the basis for a potential settlement to the Russia–Ukraine war.
Putin reminded his council that Washington had raised the issue during their discussions in Alaska, and said that Russia had already demonstrated “flexibility” and “compromise” despite what he described as difficult demands. According to him, the United States had since returned with a substantially expanded version of the deal, now containing 28 points, which he said could realistically guide an eventual peace agreement. He confirmed that Moscow had received the document and was prepared to treat it as a workable foundation for negotiations.
The Ukrainian government maintains a sharply different position. President Volodymyr Zelensky, who has spent the last 48 hours in high-level calls with NATO, European leaders and U.S. Vice President JD Vance, warned that Ukraine was living through “one of the most difficult moments” in its statehood and rejected any suggestion that Ukraine should “betray its own country.” Kyiv continues to insist that its territorial integrity cannot be the subject of negotiation.
The latest development comes after days of speculation about U.S. proposals offering a vast reconstruction package for Ukraine in exchange for territorial concessions and an immediate ceasefire. Trump’s plan reportedly includes a requirement that billions in frozen Russian assets be redirected into Ukraine’s post-war rebuilding, an idea the Kremlin has signalled it may accept under the right conditions.
Downing Street meanwhile confirmed that Zelensky, UK Prime Minister Sir Keir Starmer, and other European leaders held an urgent round of coordinated diplomacy, agreeing to intensify consultations with the U.S. “in the coming days.” British officials said the leaders reiterated support for “a just and lasting peace for Ukraine,” adding that any settlement “must fully involve Ukraine and preserve its sovereignty.”
Sources familiar with the U.S. document said the American proposal opens by reaffirming Ukraine’s sovereignty while simultaneously requiring both Russia and Ukraine to enter into what is described as a comprehensive, long-term non-aggression framework with Europe and the United States. The language asserts that all ambiguities left unresolved during the past three decades of post-Soviet relations would be considered settled once the agreement takes effect.
Within the text, Russia would formally pledge not to invade any neighbouring country. Conversely, NATO would undertake not to expand further eastward, while the United States would moderate a dedicated dialogue between Russia and the alliance designed to calm long-standing security disputes and create what Washington calls a “stable, de-escalatory environment” in Europe. In exchange, Ukraine would receive extensive security guarantees, though its armed forces would be capped at a maximum of 600,000 personnel.
Ukraine would also be required to amend its constitution to permanently exclude NATO membership, while NATO itself would formally declare that Ukraine will not be admitted now or in the future. No NATO troops would be stationed on Ukrainian soil under any circumstances, though European fighter jets would be based in Poland as part of a wider deterrence structure.
The American guarantee to Ukraine, which forms one of the plan’s more controversial sections, states that the U.S. would be financially compensated for providing its security umbrella. Under the arrangement, Ukraine would automatically lose that guarantee if it launched any military action inside Russia, while a Russian invasion of Ukraine would trigger the immediate reinstatement of all global sanctions and the withdrawal of every political or economic concession Russia would otherwise receive under the deal. A missile strike by Ukraine on Moscow or Saint Petersburg would fully void the entire guarantee.
The proposal acknowledges Ukraine’s potential path into the European Union and promises short-term preferential access to EU markets while membership is being considered. It also outlines a massive redevelopment programme for Ukraine, including the establishment of a Ukraine Development Fund intended to channel investment into sectors such as technology, artificial intelligence, energy infrastructure and large-scale reconstruction of damaged cities. The World Bank would coordinate a financing mechanism to accelerate these efforts, while the United States would partner with Ukraine to jointly operate the country’s energy infrastructure—particularly gas pipelines and storage facilities.
In return, Russia would receive phased sanctions relief and be gradually reintegrated into the global economy. The plan envisions a new U.S.–Russia economic partnership targeting energy, the Arctic, rare-earth minerals, artificial intelligence, infrastructure and data-center development. Moscow would also be invited back into what was formerly the G8, restoring its seat among the world’s major industrial powers.
One of the most contentious components deals with frozen Russian assets. According to the document, $100 billion from these assets would be channelled into a U.S.-led reconstruction initiative for Ukraine, with the United States receiving 50 per cent of profits from the associated investment projects. European governments would match the $100 billion with their own contribution. The remainder of the frozen Russian funds would be placed into a joint U.S.–Russian investment vehicle intended to incentivise long-term cooperation between the two countries.
A joint U.S.–Russia security task force would be created to enforce the terms of the agreement. Simultaneously, Russia would pass domestic laws formally declaring a national non-aggression policy toward both Europe and Ukraine. Washington and Moscow would also extend nuclear arms-control treaties such as START, while Ukraine would reaffirm its non-nuclear status under the Non-Proliferation Treaty.
The plan details the future of the Zaporizhzhia Nuclear Power Plant, which would be restarted under direct supervision of the International Atomic Energy Agency, with electricity output divided evenly between Russia and Ukraine.
The document also emphasises social and humanitarian reforms. It requires both Russia and Ukraine to implement nationwide education programmes promoting cultural tolerance and eliminating racist or extremist ideology. Ukraine would specifically commit to EU-standard protections for religious and linguistic minorities. Both governments would repeal discriminatory policies affecting media, language, and education, and all forms of Nazi ideology would be explicitly outlawed.
The section on territory states that Crimea, Luhansk and Donetsk would be recognised in practice as Russian, including by the United States. Kherson and Zaporizhzhia would remain frozen along existing frontlines, amounting to de facto recognition of Russian control in those areas. Russia would relinquish certain other areas it occupies outside the specified regions, while Ukrainian forces would withdraw from the remaining parts of Donetsk they still control. That withdrawn territory would become a demilitarised buffer zone acknowledged internationally as belonging to the Russian Federation, though Russian troops would not enter it.
Both Ukraine and Russia would commit not to change territorial arrangements by force, and Ukraine’s security guarantees would not apply if it violated this clause. Russia would also agree not to interfere with Ukraine’s use of the Dnieper River for commercial purposes, including grain shipments through the Black Sea.
A humanitarian committee would oversee a full exchange of all prisoners and civilian detainees, ensure the return of all abducted children, organise family reunification programmes and address the needs of victims of the conflict.
The proposal requires Ukraine to hold national elections within 100 days of signing, while all wartime actions, and grievances arising from them, would be covered by a comprehensive amnesty binding on both sides. Implementation of the entire agreement would be monitored by a new international body referred to as the “Board of Peace,” chaired by former U.S. President Donald J. Trump, which would also impose penalties for violations. The ceasefire would take effect immediately after both armies withdraw to the designated positions described in the text.
Experts warn that the plan, while detailed, contains significant concessions that Kyiv has repeatedly described as unacceptable. Analysts at Chatham House said the $100 billion reconstruction package funded by frozen Russian assets is likely to be viewed in Washington as a strategic incentive for U.S. involvement, but would constitute an enormous diplomatic victory for the Kremlin if implemented.
As Putin embraces the proposal and Trump prepares to push it internationally, the coming weeks may determine whether the plan becomes a historic settlement or remains another unrealised diplomatic blueprint.
