European countries are reportedly working with Ukraine on a 12-point proposal to end the war along the current frontlines, according to Bloomberg.
The plan envisions the establishment of a peace council chaired by Donald Trump, which would oversee its implementation, the source said.
European leaders on Tuesday urged Washington to take a firm stance, calling for an immediate ceasefire in Ukraine, with the current frontlines serving as the basis for future negotiations. The Russian government has long demanded that Ukraine cede more territory in exchange for agreeing to a truce.
Under the proposal, Ukraine would receive security guarantees, financial aid to repair war damage, and a fast-track roadmap for European Union membership.
Once Russia agrees to a ceasefire and both sides commit to halting advances, all displaced children would be returned to Ukraine, and prisoner exchanges would take place.
Both sides would then begin negotiations over the governance of occupied territories. However, according to the report, neither Europe nor Ukraine would legally recognize the occupied areas as Russian territory.
Sanctions against Russia would be gradually lifted, but around $300 billion in frozen central bank reserves would only be returned once Moscow agrees to contribute to Ukraine’s postwar reconstruction. Sanctions would be reimposed if Russia attacks again.
Reuters reported it could not independently verify Bloomberg’s information, and the European Union has not yet responded to requests for comment.
