The draft US-Russia peace plan has been widely leaked and we now know that it proposes to hand over those areas of Ukraine's industrial eastern Donbas region still under Ukrainian control to the de facto control of Vladimir Putin's Russia.
Latest versions of the text also call for Ukraine to cut the size of its armed forces to 600,000 people.
But what else is known about the text and who stands to benefit from it most?

What are the key points?

There are 28 key points and several appear potentially acceptable to Ukraine despite some vagueness. Ukraine's sovereignty would be "confirmed," including a proposed comprehensive non-aggression agreement with security guarantees for Kyiv, although details on these assurances remain unclear. A robust military response and the restoration of sanctions are proposed should Russia invade again.

Handover of Ukraine's territory and cut in armed forces

Contentious proposals include Ukraine ceding unoccupied territory and a reduction of its armed forces. The draft suggests Ukrainian forces withdraw from parts of Donetsk Oblast, with the area recognized as territory belonging to Russia, a move likely unacceptable to many Ukrainians.
Additionally, while the limit of 600,000 personnel might seem reasonable in peacetime, it raises concerns about sovereignty and military efficacy.

Ukraine's future - with EU but not NATO

Significant commitments regarding Ukraine's strategic future are proposed, including a constitutional guarantee against joining NATO, alongside potential eligibility for EU membership and market access.

Bringing Russia back from isolation

The plan indicates intentions for Russia's re-integration into the global economy, though skepticism remains regarding its feasibility, especially in light of current international dynamics.

What about Russia's frozen assets?

The draft proposes utilizing $100 billion of frozen Russian assets for rebuilding Ukraine, but questions surround the adequacy of these funds considering the total reconstruction cost is much higher.

What is not in the plan?

Critics note the absence of required limitations on Ukraine's military capabilities, despite specific clauses addressing missile strikes against Russian cities negating security guarantees.

Is this a definitive peace plan?

The pace of the U.S. in moving the draft forward has raised concerns about its finality and comprehensiveness. Key stakeholders have expressed varying perspectives on the plan's status, hinting at its developmental nature.

Is the draft a Putin wishlist?

The draft is viewed by some as leaning towards Russian interests, especially regarding territory and military limitations, complicating the potential for consensus.
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