Ukrainian President Volodymyr Zelenskiy said peace negotiations with Western allies have reached “a new milestone”, offering cautious optimism that the war with Russia could end in the first half of 2026.

Speaking during a visit to Cyprus on January 8, Zelenskiy said he was not ruling out the possibility of concluding the war within the coming months. “We note that the negotiations with our European partners, and of course with the US and all members of the Coalition of the Willing, have reached a new milestone,” he told journalists during a ceremony in Nicosia, as reported by Interfax Ukraina on January 8.

European Union leaders were in Cyprus for the official start of the country’s six-month presidency of the EU Council. Addressing the gathering, Zelenskiy said: “We are aware that this war can be ended during your presidency.”

The remarks signal a shift in tone for the Ukrainian president, who has generally avoided speculating on timelines for peace since Russia’s full-scale invasion began in February 2022. The war, now approaching its fourth year, has left tens of thousands dead and displaced millions, while severely damaging Ukraine’s infrastructure and economy.

Ukraine has been holding a series of talks with Western partners, including the US and EU member states, aimed at consolidating political and military support. These discussions also include the so-called “peace formula” initiative, proposed by Zelenskiy in late 2022, which outlines a framework for ending the conflict based on respect for Ukraine’s territorial integrity and the withdrawal of Russian forces.

Currently there are two deals in play: a 27-point peace plan (27PPP) thrashed out between Russian President Vladimir Putin and the US envoys at the Moscow meeting on December 3; and Bankova’s 20-point peace plan (20PPP) submitted to the Kremlin on Christmas Eve counter offer thrashed out at the Berlin meeting on December 14-15 and a follow up Mar-a-Lago meeting on December 28. Any successful deal turns on closing the gap between these two positions and will involved territorial concessions and real security guarantees for Ukraine by its international allies.

While no formal negotiations with Russia are currently taking place, Ukraine has continued diplomatic efforts with global partners, including preparations for a possible global peace summit. Swiss authorities confirmed in December that they had offered to host such a summit, though no date has yet been announced.

Putin has not shown any inclination to compromise and repeatedly insisted that any negotiations must recognise what the Kremlin calls “new realities” on the ground — a reference to his insistence that any peace deal starts with Bankova conceding control over the entire Donbas region.

In Cyprus, Zelenskiy also held bilateral meetings with European leaders to rally continued support amid concerns about waning public and political commitment to Ukraine’s war effort.

Zelenskiy said his team is ready to discuss the “most difficult issues” with Trump’s envoys after securing promises on security assurances from Europe and the US in a Paris meeting on January 6 of the Coalition of the Willing.

Discussions will shift and focus on the thorny issue of territories and control over the Russian-occupied Zaporizhzhia nuclear power plant, Europe’s largest, as the main obstacle to closing the deal, before proposing a new version of the deal to Moscow.

“Ukraine does not shy away from the most difficult issues and will never be an obstacle to peace”, Zelenskiy said on January 7.

Trump’s special envoy Steve Witkoff and son-in-law Jared Kushner achieved what French President Emmanuel Macron called “operational convergence” over guarantees to prevent a further Russian attack after talks with US and Ukrainian officials in Paris. As negotiations progressed, the Ukrainian leader said that he expects to meet Trump soon to discuss security guarantees.

One major aspect of the Paris meeting guarantees is involving coalition countries in the US-led ceasefire monitoring mechanism. Another crucial element includes ongoing support for Ukraine’s military and strengthened defense cooperation. The coalition also agreed to finalize commitments in the event of another armed attack by Russia. These may include the use of military assets, intelligence sharing, logistics, diplomatic efforts, and further sanctions.

However, as bne IntelliNews reported, Europe has stopped short of offering Ukraine real Article 5-like security guarantees that include a military collective security component where Europe is prepared to deploy its armed forces and fight shoulder to shoulder with the Armed Forces of Ukraine (AFU) should Russia reinvade Ukraine.

In lieu of this commitment, Ukraine signed a much weaker “Declaration of Intent” with France and Britain to deploy multinational peacekeepers after the war concludes – something that the Kremlin has rejected out of hand.

Spain and Canada are considering sending their troops, while Sweden has offered to monitor Ukrainian airspace and assist with demining the Black Sea after a peace agreement has been concluded. Belgium is also considering using its navy and air force to support security efforts.

The number of peacekeepers that Ukraine will require is under discussion, with estimates ranging from 15,000 to 30,000 military personnel. For the first time, the US has endorsed a broad coalition of Ukraine’s allies, pledging security guarantees that include intelligence support if Russia attacks again but not troops on the ground.