Kyiv – A new round of negotiations between Ukraine and Russia could be held on February 26 and 27, according to Kirill Budanov, head of Ukraine’s Main Intelligence Directorate. The announcement comes as the war enters its fifth year, with both sides signaling a willingness to continue talks despite ongoing fighting.
“It is no secret that the negotiations are not easy. But we are definitely moving forward and approaching the moment when all parties will have to make definitive decisions: continue this war or make peace,” Budanov stated. He also expressed hope for a significant prisoner exchange this week, saying, “We are working on it, and I hope it will happen this week. It could be a significant number, larger than the last time.”
On the battlefield, Ukrainian forces claim to have regained control of approximately 400 square kilometers of territory since the end of January, specifically in the Oleksandrivka sector. General Oleksandr Syrsky, commander of Ukraine’s army, reported that airborne assault forces and adjacent units had liberated eight towns. Despite these gains, Syrsky acknowledged continued Russian pressure, with the enemy employing small assault groups, artillery, drones, and armored vehicles in attempts to infiltrate Ukrainian positions.
The potential for renewed peace talks coincides with a stark assessment of the cost of rebuilding Ukraine. A joint report from Kyiv, the World Bank, the European Union, and the United Nations estimates that post-war reconstruction will require approximately $588 billion (over €500 billion) over the next decade – three times Ukraine’s projected GDP for 2025. The report indicates that direct damage caused by the war reached $195 billion by the end of 2025, a 12% increase year-on-year, driven largely by a 21% surge in damage to energy infrastructure.
Amidst these developments, Ukrainian President Volodymyr Zelenskyy has urged NATO to consider Russian missile systems deployed in Belarus as “legitimate targets.” This call for expanded military consideration comes after Russia launched drone and missile attacks on Ukraine, resulting in at least three deaths and numerous injuries. Local authorities reported two fatalities from drone strikes in the Odesa region and one death in Zaporizhzhia following attacks on industrial facilities.
European Union High Representative for Foreign Affairs Kaja Kallas, speaking at a Council meeting in Brussels, indicated that a 20th package of sanctions against Russia is under discussion but unlikely to be approved immediately. Kallas emphasized the need to shift pressure from Ukraine, which has been asked to make concessions in peace talks, to Russia, which she identified as the aggressor in the conflict. “So far, the pressure has been put on Ukraine regarding peace talks, but it must be exerted on Russia because they are the aggressor in this war,” she said.
