Putin’s Conditional Offer on Ukrainian Territory During a late‑night Kremlin briefing on December 24, President Vladimir Putin told senior Russian businessmen he might consider swapping some Russian‑held Ukrainian land, but he demanded that the entire Donbas region remain under Russian control [1]. The remarks were relayed by Kommersant and framed as “concessions already discussed” while keeping Donbas non‑negotiable [1]. This signals a staged approach to any peace deal rather than a blanket territorial trade [1].

Scope of Russian‑Controlled Areas Used as Baseline The article lists Russia’s claimed control over Crimea, the Donbas, Zaporizhzhia, Kherson and smaller portions of other regions as the baseline for any territorial adjustments [1]. These figures set the geopolitical stakes for negotiations and illustrate the extent of territory Russia currently occupies [1]. Kremlin officials presented this baseline to domestic business leaders to contextualize potential swaps [1].

Joint Management Proposal for Zaporizhzhia Nuclear Plant Putin raised the Zaporizhzhia nuclear power plant as a possible joint Russian‑U.S. management project, noting U.S. interest in establishing crypto‑mining operations near the facility [1]. He suggested the plant could partially supply electricity to Ukraine under such an arrangement [1]. This proposal links security concerns with economic incentives in the broader peace framework [1].

Ukrainian‑U.S. Negotiations Stalled on Donbas Ukrainian President Volodymyr Zelenskiy reported that while Kyiv and Washington moved closer to finalising a 20‑point plan in Miami, they could not agree on ceding any part of the Donbas or on the status of Zaporizhzhia [1]. The deadlock underscores the difficulty of reconciling Ukrainian territorial integrity with Russian demands [1]. Both sides continue diplomatic talks despite this impasse [1].

Implications for Future Peace Framework The combination of a possible land swap outside Donbas, joint nuclear plant management, and crypto‑mining interests indicates the Kremlin is seeking flexible, multi‑layered concessions [1]. By presenting these ideas to influential domestic actors, Russia aims to balance internal political expectations with external diplomatic pressure [1]. The evolving proposal suggests any eventual agreement will likely involve selective exchanges rather than a comprehensive territorial handover [1].