The public story is that Donald Trump has a bold peace plan and that Ukraine simply has to decide whether to accept it. The reality is simpler and uglier. Ukraine is being squeezed at the same time by a corruption scandal at the top, a plan largely drawn up without it, a battlefield that is slowly turning against it, and a drone war that is eating both armies.

Trump deadline does not create this pressure. It makes it visible. What comes next will show whether Ukraine still acts as a subject in this war or becomes the object of a bargain between its main sponsor and its invader, and whether Europe is willing to be named as co author of that bargain.

For three years the war in Ukraine has been explained to Western publics as a clean story. A smaller democracy faced invasion. Wealthy allies armed it. In the tidy version, enough weapons and enough sanctions would eventually grind Russia down and the map would go back to how it was.

That version has now broken. On the ground Ukraine is losing territory. In Kyiv a corruption scandal has exposed how money moved through the system even during full scale war. In Washington the main patron has put forward a peace plan that largely reflects Russian demands and has attached a clock to it. Europe is watching all of this with thin arsenals, tired voters and the knowledge that any formal deal will ask European states to pay for a settlement they did not design.

The war in one plain paragraph without earlier context

Under earlier provocation Russia crossed the border in February 2022 and drove toward Kyiv. It failed to take the capital, pulled back and settled into an artillery war in the east and south. Ukraine pushed it out of some areas in 2022 but stalled in 2023. Since then Russia has regrouped, expanded its industry and begun to push again. Ukraine is still resisting but now fights with less ammunition and less foreign enthusiasm than before, while both sides live under a constant swarm of drones.

How we ended up in this corner

None of this happened overnight. After the first months, when Russia abandoned its attempt to seize Kyiv, the war turned into a long contest of artillery, drones and production. Russia had more factories, more shells and more time. Ukraine had better morale and Western support, but that support was always conditional and always limited by domestic politics in donor countries. In a war of attrition Russia was bound to win.

By late 2023three separate lines converged. The front no longer moved in Ukraine favour. By 2025 Western patience began to fray. A corruption scandal burst into the open inside Zelensky wider circle at exactly the moment his allies wanted tighter control over how their money was used. At the same time the character of the fighting changed. Cheap drones, bought or built in astonishing numbers by both sides, began to destroy tanks, guns and infantry at a rate that traditional artillery never could. Russia still advanced, but every kilometre cost more men and machines.

Against that backdrop Trump team tried to short circuit the stalemate with a twenty eight point framework agreed with Moscow in private channels. Then they discovered that Europe and Ukraine were not just passive spectators.

Operation Midas in simple terms

Operation Midas is an investigation by Ukraine anti corruption bureau into a large racket at the state nuclear company Energoatom. Investigators say that managers and middlemen inflated contracts, took generous cuts and used shell firms even while the country was under full invasion.

  • It ran for more than a year, with dozens of searches and many hours of recorded calls.
  • The alleged organiser is businessman Timur Mindich, a long time associate and former business partner of President Zelensky from the Kvartal 95 days.
  • Two ministers have already been pushed out or moved aside as a result.

The bureau has even released fragments of the recorded conversations in edited video form, turning the scandal into a kind of public theatre that keeps the story alive.

Why the Midas scandal matters now

At one level Midas is exactly what Western governments said they wanted. Ukraine received huge sums in budget aid and in military support. In return its leaders promised that the old system of padded contracts and quiet kickbacks would be torn out.

The details from Midas tell a different story. They describe energy deals during the war where contracts were steered to favoured companies and a generous cut was skimmed off as a normal fee. They describe businessmen talking casually about controlling ministries. They show that the serious money did not vanish with the first Russian missiles. It simply adjusted to the circumstances and kept moving.

The problem for Zelensky is not only that this is happening on his watch. It is that the central figure named by investigators, Timur Mindich, is not some distant oligarch. He is the man who helped build Zelensky pre political career. He is part of the original circle. That makes it much harder to claim that everything bad happened far away from the presidency in forgotten offices.

  • Foreign taxpayers now have proof that real money was being skimmed during the war.
  • The bodies that uncovered it are themselves funded and backed by Western partners.
  • Each new leak weakens the claim that Ukraine can be trusted with endless support on its own terms.

When the same capitals that bankrolled your state also control the tools that can expose your friends, their bargaining power increases. Your freedom of manoeuvre decreases.

The Trump plan and the deadline

Into this arrives a peace plan. It has twenty eight points, was shaped largely by Trump envoys and Russian interlocutors, and was presented as a framework rather than a menu. It speaks in the language of balance and compromise. Its practical effect is simpler.

Ukraine would give up formal claims to Crimea and most of the occupied east and south. It would abandon its bid to join NATO and accept limits on its army and on foreign forces on its territory. In return it would receive uneasy guarantees, some access to returns on frozen Russian assets and a promise of reconstruction money.

Ukrainian officials have called this unacceptable and said that it rewards aggression. European officials have released their own counter version that softens some of the harshest sections. Russian officials, for their part, have welcomed the general idea while making clear that anything that dilutes their gains is unwelcome.

What the Trump plan really does

  • It writes Russia main achievements into a draft settlement.
  • It gives the United States a way to reduce its role and its spending.
  • It places Europe in the position of paying for reconstruction without having written the first draft.
  • It confronts Ukraine with a formal choice between territorial loss and continued war with less support.

It is not a neutral blueprint. It is a political instrument that reflects where power and patience currently sit, and it assumes that Europe, NATO and the wider financial system will quietly do what is written for them.

Trump then added the theatre. He told the world that Zelensky has until a given Thursday to accept the plan as a basis for talks or else continue to fight his little heart out without the same level of American help. No serious observer thinks a complex settlement will literally rise or fall on one date. The significance of the deadline is different. It sends a clear public signal that the era of blank cheques is finished.

After a stormy meeting between the United States lead negotiator and European ambassadors, that message is already being softened in private. The language has shifted from sign it by Thanksgiving or we walk away to if you keep moving towards our demands we can extend the process. The text remains the same. The political problem does not go away.

Why this plan fails before Moscow says no

On paper the twenty eight point outline is a United States Russia framework. In reality many of its clauses explicitly require action by Europe, by the European Union, by NATO or by the World Bank. It calls for non aggression agreements that bind Europe, for changes to NATO practice on enlargement, for staged lifting of European sanctions, for the use and then unfreezing of Russian assets held in the European system, for an ambitious reconstruction package built around European and Bretton Woods money.

None of that can be delivered by the White House on its own. European parliaments would have to vote for it. NATO governments would have to accept it. World Bank shareholders would have to back it. That is why this plan is likely to fail before it reaches the point where Russia is asked for a final yes or no.

European leaders have already set public lines. They say that borders cannot be changed by force, that Ukraine as a sovereign state cannot have its armed forces capped by outside powers, and that any settlement for Ukraine must be anchored in an order where the European Union is not just a cashier but a central political actor. Their own draft plan mirrors those points even as Ukraine loses ground.

For a leader in Berlin or Paris there is another calculation. To sign a document that clearly looks like a Ukrainian capitulation is to accept personal ownership of the defeat. To resist a settlement, and then watch Ukraine collapse because Washington and Moscow have moved on, is to blame that collapse on Trump or on Washington and to keep the story of Russian threat alive for domestic use. From that point of view it is safer to talk about maximal outcomes and resist compromise than to put a name under an ugly peace.

From Moscow this is comfortable. Russia can say that it has talked to the United States, that it has accepted a framework, that it has agreed general points, and that it is the Europeans who cannot live with the realities that their own war has created.

The battlefield underneath the diplomacy

All of this plays out while the war itself continues. Russia is pushing around Pokrovsk and along parts of the eastern line. It claims encirclements and new salients. Ukraine disputes some of these claims but does not deny that the strain on its troops is severe and that its forces are stretched thin.

For a lay reader the simplest way to put it is this. Ukraine is not facing a sudden collapse. It is facing a slow grind in which Russia has more factories and a leadership that has accepted long war, it was for this reason Russian success was a forgone conclusion. Ukraine has courage and skill, but courage does not refill ammunition stocks or replace exhausted brigades. Every step of ground now comes at a rising cost in vehicles, guns and lives because everything that moves is watched from above.

On present trends many military observers now expect Kramatorsk and Sloviansk, and with them Donbass and large territory east of the Deniper to fall under Russian control within a year, unless Ukraine can stabilise the line and Western support increases again. Each Russian advance strengthens Moscow position at the table but also deepens its exposure to the drone fire that now shapes the front instead of artillery, that is the ain reason why Russian advance is slower than expected, Putin being casualty averse preventing a flood of injured returning to small town Russia.

Drones, the new equaliser

The biggest change in this war in the past two years is that it is no longer simply a contest of artillery shells and tank numbers. It is a contest of cheap drones and the people who fly them.

Ukraine has turned itself into a vast workshop for unmanned aircraft. Domestic factories, volunteer groups and foreign suppliers now deliver hundreds of thousands of small first person view drones and quadcopters to the front every month. These machines cost a few hundred dollars, carry a grenade or a shaped charge, and are flown straight into tanks, guns, trucks or dugouts. Long range Ukrainian systems hit refineries, depots and airfields deep inside Russia, forcing Moscow to pull air defences back to cover its own territory.

Russia has responded in kind achieving drone superiority in numbers but has been unable to escape the Ukrainian drone strikes while its troops advance, It has sharply increased production of its own small strike drones, continued to use and copy the larger Iranian designs, and created dedicated unmanned units inside its army. It uses mass swarms to hit power plants, rail nodes and Ukrainian positions, and floods the front with electronic warfare to jam or hijack Ukrainian drones.

Serious studies now agree that a clear majority of battlefield losses on both sides are caused by drones rather than by classic shellfire. A cheap plastic airframe kills an expensive tank. A quadcopter hovering silently above a trench can drop a small bomb through a hatch and destroy a crew that never saw it coming. This has turned the front into a permanent ambush from the sky.

Because so many Russian units are now being hit by Ukrainian drones at close range, the ratio of Russian to Ukrainian casualties has narrowed compared with the early phase dominated by artillery, even as Russia still holds the initiative on the map the advance is slower and more cautious.

That is one quiet reason why the Kremlin now stresses that it may be open to a negotiated end on its own terms. Russia is gaining land, but each gain is now relatively expensive. If Moscow can lock in its main objectives now have the territory its captured recognised as Russian by the world including the whole of the four oblasts it might just agree to the terms.

Why the map and the drone sky matter in the talks

However any negotiation over territory the side that is slowly advancing has less reason to compromise. Every village Russia takes today makes it easier for Moscow to argue tomorrow that the current front line should become the new border. Every Ukrainian retreat weakens the case for total restoration of the old map.

That is why time now works in favour of Russia and against Kyiv, The longer the war drags on, the more any eventual settlement will rest not only on who holds what land but also on how much more blood Russia is willing to pay to hold it.

The numbers behind the squeeze

  • American and allied support for Ukraine since 2022 now runs into the hundreds of billions. Tens of billions more are stalled in parliaments and subject to tighter audit and open political dispute.
  • Russia produces several times more artillery shells each year than Ukraine and its backers can match on present plans, but both sides are now channelling more money into unmanned systems and electronic warfare than into classic guns.
  • Ukraine economy has shrunk by about one third since the invasion. Russia economy has been held up by war mobilisation and redirected trade, but that support rests on higher defence spending and sanctions workarounds that will not last forever.

These are not accounting curiosities. They are the hard background against which every paragraph of the peace plan will be read.

Where Europe really stands

Europe speaks in the language of values and solidarity, and there is still real sympathy for Ukraine among ordinary people. But behind closed doors European leaders know that their armies are small, their stockpiles are low and their voters are tired. They also know that the American mood has shifted and that some future administration in Washington will one day park Ukraine and move on.

Outside the West, powers such as India, Turkey and the Gulf monarchies have quietly adjusted to a drawn out war, buying discounted Russian energy and giving Moscow diplomatic depth that Europe cannot match. That makes it even harder for European leaders to believe that they can simply out wait the Kremlin and return to business as usual.

The European counter proposals to the Trump plan are an effort to salvage something. They aim to preserve some Ukrainian military capacity, push for clearer security guarantees and insist that Russia should carry real obligations on reconstruction and accountability. Yet without control of the main purse and without control of the main armed forces, Europe leverage is limited. It may shape the commas. It is unlikely to write the verbs.

For Europe the nightmare outcome is not just a frozen front. It is a Russia that has swallowed not four but seven Ukrainian regions, that has taken the largely Russian speaking cities of the south and even Odessa, and that controls the Dnieper line and the upstream stretches of the river on one or both banks. That would leave the European Union facing a larger, battle hardened Russian army directly on its eastern border and would give Moscow enduring leverage over the Black Sea and the grain routes into the heart of Europe.

The four positions in plain language

  • Russia wants to lock in its gains, keep Ukraine out of NATO and ensure that no large hostile army can build up on its border again. It is ready to keep fighting until those conditions are met, but it is also aware that drones are making each new advance more costly.
  • The United States under Trump wants to stop paying for a long war that does not deliver a clear victory. It wants a ceasefire that can be sold at home as success and is trying to do that by writing a framework with Moscow and then presenting it as a choice to Kyiv and to Europe.
  • Europe talks solidarity but budgets scarcity. It wants to avoid both a Ukrainian collapse and a wider direct war with Russia, and is willing to live with an ugly settlement if that is the price of stability, but it does not want to sign its name under an obvious capitulation text.
  • Ukraine wants to remain intact and sovereign but no longer has the strength to impose that wish on the battlefield or in the negotiating room. It is held up by courage, drones and outside money, and all three are under pressure.

Public mood inside Ukraine

Recent polling suggests a country that is both defiant and tired. Large majorities still back continued defence and do not want to see the loss of more land formalised. At the same time a growing share say they are open to talks if some kind of sovereignty can be preserved and if the alternative is endless war with shrinking support.

That tension between pride and exhaustion is the political air that any Ukrainian leader now breathes.

What may come next

In the weeks and months ahead the world is likely to see three kinds of movement. Kyiv will try to amend the plan enough that it does not look like simple surrender and may point to drone successes to argue that it still has leverage. Washington will quietly scale its material support to match the speed of those amendments and will keep one eye on domestic politics. Moscow will continue to test Ukrainian lines, use drones and artillery to wear down defenders and make sure that every delay is costly.

Somewhere in that triangular pressure Zelensky will have to choose. He can refuse and keep fighting with a shrinking coalition and mounting losses. He can accept the plan close to its original form and carry the blame for losing land and promise. Or he can try to trade his inner circle and his own political future for a slightly less brutal settlement.

None of these paths looks like victory. At best they are different ways of managing defeat.

The underlying reality is messier and more dangerous than any neat peace document suggests. Trump deadline, theatrical or not, now forces Kyiv, Moscow and Brussels to show what they are genuinely willing to trade away. The next phase will show whether Ukraine is still a subject in this war, or whether it has been reduced to the object of a deal between its supposed guarantor and its invader, and whether Europe is prepared to be seen as co author of that deal.

Three ways this could end

  • Best case: a hard ceasefire along an ugly line, enough security guarantees and drones and air defences to deter renewed attack, and real anti corruption reform that unlocks reconstruction.
  • Less likely: an uneasy truce that freezes the front for a time, with sporadic clashes, ongoing drone strikes and a permanent wound on the map, partially based on the twenty eight point logic but never openly acknowledged as such.
  • Likely if War runs its Course: a forced collapse of Ukrainian defences followed by Russian control of all of the Donbass plus the other three oblasts, a push to the Dnieper and possibly the seizure of Odessa and other Russian speaking regions, leaving Europe with a larger Russian state holding seven Ukrainian oblasts, an army that presents itself as battle tested and near invincible, and a long shadow war that no document will control.

You may also like to read on Telegraph.com

Victory and a Settlement on Russia Terms

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Ukraine War a Defeat Written from the Beginning

Traces how the shift from manoeuvre to attrition after Istanbul made a long grinding conflict almost inevitable.

Ukraine War Narrative Shift

Charts how official language about the war has changed as the front line and the balance of power have moved in Russia favour.

Europe Empty Promises Why Russia Sets the Price of Peace in Ukraine

Examines why Europe talks about guarantees but lacks the industrial and military depth to decide the final shape of any settlement.

Latest War Report from Eastern Ukraine

Offers a ground level look at Russian encirclement tactics and the pressure on Ukrainian units near Pokrovsk and other eastern towns.

Corruption in Kyiv and Deindustrialisation in Berlin

Links Ukraine internal corruption problems with Europe wider economic crisis and the fading story line of a clean moral war.

Europe Ukrainian War When Language Replaced Strategy

Looks at how Western leaders relied on narrative management instead of realistic strategy as the war dragged on.

Russia Generals Declare the Tank Dead

Explores Russian doctrinal debates over drones, sensors and the new digital battlefield born out of the Ukraine conflict.

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Dissects how one drone incident over Poland was framed as escalation even when the forensic detail pointed elsewhere.

Germany Deindustrialised Britain Broken the Real Cost of the War

Sets the Ukraine conflict inside a wider picture of European economic decline and strategic overreach.

References

Source Relevance
Telegraph Online, Victory and a Settlement on Russia Terms (2025) Background on the peace framework and its implications for Ukrainian sovereignty and European security.
Telegraph Online, Ukraine War a Defeat Written from the Beginning (2025) Explains the shift from early manoeuvre to industrial attrition and why Russia structural advantages mattered.
Telegraph Online, Corruption in Kyiv and Deindustrialisation in Berlin (2025) Details corruption patterns inside Ukraine and the gap between Western narratives and realities on the ground.
Telegraph Online, Russia Encirclement in Eastern Ukraine (2025) Provides concrete examples of Russian advances and encirclement tactics near Pokrovsk and Rodynske.
Telegraph Online, Europe Empty Promises Why Russia Sets the Price of Peace in Ukraine (2025) Analyses Europe limited leverage over the endgame and the problem of underpowered guarantees.
Telegraph Online, Ukraine War Narrative Shift (2025) Tracks how Western official language about the war has moved as facts on the ground changed.
Telegraph Online, Europe Ukrainian War When Language Replaced Strategy (2025) Situates the current diplomatic moment within a longer pattern of strategic drift and narrative management.