• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
EuropeUkraine invasion
Europe

Putin cautiously welcomes U.S. peace plan as Trump issues challenge to Zelenskyy

By
Illia Novikov
Illia Novikov
,
Barry Hatton
and
The Associated Press
The Associated Press
Down Arrow Button Icon
November 21, 2025, 4:43 PM ET
Ukraine's President Volodymyr Zelenskyy delivered a stark message to his nation in a video address on Friday.
Ukraine's President Volodymyr Zelenskyy delivered a stark message to his nation in a video address on Friday.Press Service Of The President Of Ukraine via AP

Ukrainian President Volodymyr Zelenskyy told his country in an address Friday that it could face a pivotal choice between standing up for its sovereign rights and preserving the American support it needs, as leaders discuss a U.S. peace proposal seen as favoring Russia.

Recommended Video

Russian President Vladimir Putin, meanwhile, cautiously welcomed the U.S. plan to end Moscow’s nearly four-year war in Ukraine, which contains many of the Kremlin’s longstanding demands while offering limited security guarantees to Ukraine. Putin said it “could form the basis of a final peace settlement,” while accusing Ukraine of opposing the plan and being unrealistic.

The plan foresees Ukraine handing over territory to Russia — something Kyiv has repeatedly ruled out — while reducing the size of its army and blocking its coveted path to NATO membership.

Zelensky, in his address hours earlier, did not reject the plan outright, but insisted on fair treatment while pledging to “work calmly” with Washington and other partners in what he called “truly one of the most difficult moments in our history.” He said he spoke for almost an hour Friday with U.S. Vice President JD Vance and Army Secretary Dan Driscoll about the peace proposal.

“Currently, the pressure on Ukraine is one of the hardest,” Zelenskyy said in the recorded speech. “Ukraine may now face a very difficult choice, either losing its dignity or the risk of losing a key partner.”

Speaking at a meeting of Russia’s National Security Council, Putin called the plan “a new version” and “a modernized plan” of what was discussed with the U.S. ahead of the Alaska summit earlier this year, and said Moscow has received it. “I believe that it, too, could form the basis for a final peace settlement,” he said.

But he said that the “text has not been discussed with us in any substantive way, and I can guess why,” adding that Washington has so far been unable to gain Ukraine’s consent. “Ukraine is against it. Apparently, Ukraine and its European allies are still under illusions and dream of inflicting a strategic defeat on Russia on the battlefield,” he said.

Trump says he wants Ukraine to respond within a week

U.S. President Donald Trump in a radio interview on Friday said that he wants an answer from Zelenskyy on his 28-point plan by Thursday, but says an extension is possible to finalize terms.

“I’ve had a lot of deadlines, but if things are working well, you tend to extend the deadlines,” Trump said in an interview on the Brian Kilmeade Show on Fox News Radio. “But Thursday is it — we think an appropriate time.”

While Zelenskyy has offered to negotiate with the U.S. and Russia, he signaled Ukraine may not get everything it wants and has to confront the possibility of losing American support if it makes a stand.

He urged Ukrainians to “stop fighting” each other, in a possible reference to a major corruption scandal that has brought fierce criticism of the government, and said peace talks next week “will be very difficult.”

Europe says it will keep supporting Ukraine

Zelenskyy spoke earlier by phone with the leaders of Germany, France and the United Kingdom, who assured him of their continued support, as European officials scrambled to respond to the U.S. proposals that apparently caught them unawares.

Wary of antagonizing Trump, the European and Ukrainian responses were cautiously worded and pointedly commended American peace efforts.

German Chancellor Friedrich Merz, French President Emmanuel Macron and British Prime Minister Keir Starmer assured Zelenskyy of “their unchanged and full support on the way to a lasting and just peace” in Ukraine, Merz’s office said.

The four leaders welcomed U.S. efforts to end the war. “In particular, they welcomed the commitment to the sovereignty of Ukraine and the readiness to grant Ukraine solid security guarantees,” the statement added.

The line of contact must be the departure point for an agreement, they said, and “the Ukrainian armed forces must remain in a position to defend the sovereignty of Ukraine effectively.”

Starmer said the right of Ukraine to “determine its future under its sovereignty is a fundamental principle.”

Existential threat to Europe

European countries see their own futures at stake in Ukraine’s fight against the Russian invasion and have insisted on being consulted in peace efforts.

“Russia’s war against Ukraine is an existential threat to Europe. We all want this war to end. But how it ends matters,” EU foreign policy chief Kaja Kallas said in Brussels. “Russia has no legal right whatsoever to any concessions from the country it invaded. Ultimately, the terms of any agreement are for Ukraine to decide.”

Trump in his radio interview pushed back against the notion that the settlement, which offers plentiful concessions to Russia, would embolden Putin to carry out further malign action on his European neighbors.

“He’s not thinking of more war,” Trump said of Putin. “He’s thinking punishment. Say what you want. I mean, this was supposed to be a one-day war that has been four years now.”

A European government official said that the U.S. plans weren’t officially presented to Ukraine’s European backers.

Many of the proposals are “quite concerning,” the official said, adding that a bad deal for Ukraine would also be a threat to broader European security.

The official spoke to The Associated Press on condition of anonymity as they were not authorized to discuss the plan publicly.

European Council President Antonio Costa in Johannesburg said of the U.S. proposals: “The European Union has not been communicated (about) any plans in (an) official manner.”

Ukraine examines the proposals

Ukrainian officials said they were weighing the U.S. proposals, and Zelenskyy said he expected to talk to Trump about it in coming days.

A U.S. team began drawing up the plan soon after U.S. special envoy Steve Witkoff held talks with Rustem Umerov, a top adviser to Zelenskyy, according to a senior Trump administration official who was not authorized to comment publicly and spoke on the condition of anonymity.

The official added that Umerov agreed to most of the plan, after making several modifications, and then presented it to Zelenskyy.

However, Umerov on Friday denied that version of events. He said he only organized meetings and prepared the talks.

He said technical talks between the U.S. and Ukraine were continuing in Kyiv.

“We are thoughtfully processing the partners’ proposals within the framework of Ukraine’s unchanging principles — sovereignty, people’s security, and a just peace,” he said.

___

Hatton contributed from Lisbon, Portugal. Harriet Morris in Tallinn, Estonia, Geir Moulson in Berlin, Angela Charlton in Paris, Pan Pylas in London, and Aamer Madhani in Washington also contributed reporting.

Inside the Fortune 500 Europe Webinar – February 11, 2026: Join Europe’s top business leaders as they explore the strategies shaping the future of the region’s most powerful companies. Register your interest.
About the Authors
By Illia Novikov
See full bioRight Arrow Button Icon
By Barry Hatton
See full bioRight Arrow Button Icon
By The Associated Press
See full bioRight Arrow Button Icon

Latest in Europe

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Leadership
  • Success
  • Tech
  • Asia
  • Europe
  • Environment
  • Fortune Crypto
  • Health
  • Retail
  • Lifestyle
  • Politics
  • Newsletters
  • Magazine
  • Features
  • Commentary
  • Mpw
  • CEO Initiative
  • Conferences
  • Personal Finance
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map

Latest in Europe

Yann LeCun smiles and adjusts his glasses
AIVenture Capital
AI whiz Yann LeCun is already targeting a $3.5 billion valuation for his new startup—and it hasn’t even launched yet
By Dave SmithDecember 19, 2025
5 hours ago
C-SuiteEurope
Exclusive: Hudson stores operator Avolta becomes first foreign company to open duty-free shops in Mainland China in 26 years
By Peter VanhamDecember 17, 2025
2 days ago
Trump points his finger into the crowd from behind the presidential podium
Big TechSilicon Valley
The Trump administration says it could go after Spotify if Europe doesn’t back off American tech companies
By Dave SmithDecember 17, 2025
2 days ago
Gen Z in military uniform
SuccessGen Z
Britain’s defense chief calls on Gen Z grads leaving university to skip corporate jobs and join the military as war with Russia becomes a growing risk
By Emma BurleighDecember 17, 2025
2 days ago
China, EU
EuropeTariffs and trade
China slashes EU pork tariffs to 19.8% from 62.4%
By Elaine Kurtenbach and The Associated PressDecember 16, 2025
3 days ago
Gen Z workers collaborate in the office.
SuccessGen Z
PwC U.K. is giving Gen Z grads ‘resilience’ training in their first 6 months on the job, to get better at handling criticisms and office politics
By Emma BurleighDecember 15, 2025
4 days ago

Most Popular

placeholder alt text
Economy
The $38 trillion national debt is to blame for over $1 trillion in annual interest payments from here on out, CRFB says
By Nick LichtenbergDecember 17, 2025
2 days ago
placeholder alt text
AI
Meta’s 28-year-old billionaire prodigy says the next Bill Gates will be a 13-year-old who is ‘vibe coding’ right now
By Eva RoytburgDecember 19, 2025
10 hours ago
placeholder alt text
Success
As graduates face a ‘jobpocalypse,’ Goldman Sachs exec tells Gen Z they need to know their commercial impact 
By Preston ForeDecember 18, 2025
1 day ago
placeholder alt text
Economy
‘This is a wacky number’: economists cry foul as new government data assumes zero housing inflation in surprising November drop
By Eva RoytburgDecember 18, 2025
1 day ago
placeholder alt text
Future of Work
LinkedIn CEO says it's 'outdated' to have a five-year career plan: It's a 'little bit foolish' considering the pace AI is changing the workplace
By Sydney LakeDecember 18, 2025
1 day ago
placeholder alt text
Success
As millions of Gen Zers face unemployment, McDonald's CEO dishes out some tough love career advice for navigating the market: ‘You've got to make things happen for yourself’
By Preston ForeDecember 16, 2025
3 days ago

© 2025 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.