Headlines
Europe, Ukraine prepare new proposal to end Russia's war, diplomats say
Published by Global Banking and Finance Review
Posted on October 21, 2025
Editorial & Advertiser disclosure
Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
PARIS/BRUSSELS (Reuters) -European nations are working with Ukraine on a new proposal for a ceasefire in Russia's war along current battle lines, four European diplomats said, mainly incorporating ideas already under discussion while pressing to keep the U.S. in a central role.
A senior European diplomat said the proposal included a reference to a peace board that would be chaired by U.S. President Donald Trump and would oversee the implementation of the proposed plan.
"It's an effort by the national security advisers to keep the United States on board," the diplomat said.
European leaders called on Washington on Tuesday to hold firm in demanding an immediate ceasefire in Ukraine, with present battle lines to serve as the basis for any future talks.
The Russian government has long demanded that Ukraine agree to cede more territory before any ceasefire.
Some 35 allies of Ukraine will meet on Friday in London for a summit among countries willing to provide long-term support to Kyiv. There is also a possibility that Trump will meet Russian President Vladimir Putin in the coming weeks.
Three other diplomats also confirmed proposals were being prepared, with one saying the idea of a board was to model it on the U.S. 20-point plan in Gaza.
Once both sides agree to a ceasefire, they would then engage in negotiations on territory but there would be no recognition of lands occupied by Russia as Russian, the senior diplomat said.
"It's an effort we also did in May, in August. Russia shows no signs of a changed position," said another European diplomat.
Asked whether this was a new push on old points, the diplomat said: "Somehow yes, with some more new elements," but gave no further details.
The diplomats spoke on condition of anonymity because of the sensitivity of the issue.
Bloomberg News first reported news of the work on a new proposal on Tuesday.
The senior diplomat said the ideas were broadly a reflection of previous proposals put forward by European powers.
Like in past proposals, there would be a return of all deported children to Ukraine and exchanges of prisoners.
It would also call for security guarantees for Ukraine, including ensuring Ukraine had the strongest military possible, as well as financial assistance for reconstruction and a roadmap to EU entry.
The senior diplomat said the proposal reiterated that EU sanctions against Russia would be lifted gradually in line with Russia meeting its commitments, but would also siphon off some of Russia's frozen assets to fund a portion of reparations payments to Ukraine.
"(That) would be a non-starter for Russia," the diplomat said.
(Reporting by John Irish in Paris, Lili Bayer and Andrew Gray in Brussels and Rishabh Jaiswal in Bengaluru; Editing by Sharon Singleton and Edmund Klamann)