According to the Telegraph newspaper, key negotiations are expected to take place at the World Economic Forum in Davos, where Ukrainian President Volodymyr Zelensky is expected to meet with US President Donald Trump.
According to Western diplomatic sources, this will involve the finalization of a so-called "prosperity agreement" that is expected to pave the way for massive investments in the Ukrainian economy.
Zelensky originally planned to travel to Washington, where he wanted to conclude not only an economic agreement but also a framework of security guarantees for Ukraine after the end of the war. However, Kiev's European allies discouraged him from making this trip.
Within the so-called "coalition of the willing," the opinion was expressed that a meeting at the White House would be premature and potentially risky. Davos, where political and economic leaders from around the world meet annually, was therefore chosen as a more suitable platform.
European representatives also appealed to the Ukrainian president to proceed cautiously and not rush into negotiations with Donald Trump. According to them, it currently appears that the US administration is inclined to resolve the conflict in a manner that would be acceptable to Kiev.
Investments worth hundreds of billions of dollars
At the heart of the planned agreement is an ambitious plan to attract approximately $800 billion over the next ten years. These funds are to be directed towards the restoration of infrastructure, industry, and energy, but also towards job creation and economic recovery. The Ukrainian government emphasizes that this is not just state aid, but mainly a combination of loans, grants, and private investment.
Zelensky has previously stated that the agreement should bring "life back to Ukraine" and create conditions for long-term economic growth. American private companies, which would participate in specific reconstruction projects, should also play a significant role in this process.
The prosperity agreement follows on from last year's mineral resources agreement, which secured preferential access for US investors to future mining projects in Ukraine. According to Kyiv, it is this aspect that should increase Washington's interest in the country's long-term stability.
The Ukrainian leadership believes that if the United States gains a direct economic stake in post-war reconstruction, it will be more willing to provide strong security guarantees.
President Trump's special envoy for peace talks, Steve Witkoff, described the economic agreement as one of the pillars of the overall package that should lead to a ceasefire. After a recent meeting in Paris, he confirmed that BlackRock, the world's largest asset manager, will also participate in the investment program.
Security guarantees are still open
In addition to the economic dimension, Kyiv is also seeking to conclude a bilateral agreement with the United States on post-war security. According to Zelensky, the document is practically ready and is only awaiting political approval at the highest level. However, it is not certain whether the agreement will be signed in Davos.
The security framework also provides for the deployment of international forces to monitor compliance with the ceasefire. The United Kingdom and France are expected to play a leading role in this "peacekeeping mission." The details were also discussed during British Defense Minister John Healey's visit to Kyiv.
Despite improving relations between Washington, European capitals, and Kyiv, it remains questionable whether Russian President Vladimir Putin is truly prepared to end the war. Diplomatic sources point out that Moscow has not yet sent clear signals of willingness to compromise, especially regarding the territories in eastern Ukraine.
However, Ukraine and its allies are continuing their diplomatic efforts for political reasons. Their goal is to hold Russia responsible if peace efforts fail. "We expect the US side to communicate with Moscow and provide us with feedback on whether the aggressor is willing to end the war," Zelensky said.
At the same time, the Ukrainian leadership emphasizes that any peace plan must include a clear response mechanism in case Russia violates the agreed commitments and resumes military operations.
(mja)