American journalist Simon Shuster, author of the book Showman about Volodymyr Zelensky, has published an article based on a new in-depth interview with the Ukrainian president. The discussion focused primarily on a potential peace agreement between Ukraine and Russia mediated by the United States.
The possibility that Kyiv may be, perhaps, willing to consider territorial concessions in the Donbas in exchange for security guarantees has already been reported in the news. In this text, we revisit how Zelensky assesses the situation on the front line, the role of Donald Trump in the peace process, and the compromises he considers acceptable.
On the Importance of Ending the War for Trump
During the interview, Zelensky emphasized that ending the war could represent a major political victory for Trump. According to him, it would strengthen Trump’s image as a peacemaker and provide an advantage ahead of the U.S. midterm elections scheduled for November 2026. “Yes, he wants fewer deaths. But speaking frankly, it’s a political victory for him,” Zelensky said. Thus, in the Ukrainian president’s view, the White House’s interest in the peace process is also driven by domestic political calculations.
On the Situation at the Front
Russia, with a significantly larger population and economy, is capable of sustaining a prolonged war of attrition. Nevertheless, Zelensky rejects the idea of a strategic defeat for Ukraine. “Ukraine is not losing,” he said in response to a question about the state of the Ukrainian armed forces. The president stressed that he would rather conclude no deal at all than sign a “bad deal.” Kyiv, he said, is prepared to continue fighting if necessary to achieve a “dignified and lasting” peace.
On the Donbas
According to Shuster, two of Zelensky’s advisers acknowledge that Ukraine might — potentially — accept a concession regarding part of the Donbas. The president does not explicitly confirm this, but explains that he avoids outright rejecting American proposals, even when they seem questionable. “So that they don’t think we want to continue the war,” he explained. He also admitted that at times it feels as though certain ideas are being proposed to test whether Ukraine will refuse them.
On Elections and a Possible Referendum
To legitimize potential territorial concessions, Zelensky is considering holding a referendum on the terms of a peace agreement in the spring of 2026. It could be combined with the presidential election, which, in his view, would increase turnout and reduce the likelihood of challenges to the results. According to Zelensky, the idea of holding elections during wartime aligns with Moscow’s interests, as Russia would seek a change of power in Kyiv. He says he is ready to run in an election but refuses to organize a vote without a prior ceasefire and without security guarantees.
On Security Guarantees
The main obstacle in the negotiations, according to Zelensky, remains the absence of clear security guarantees. He insists on written commitments from the United States and European allies to protect Ukraine against a possible future aggression. At this stage, he says, the American positions remain “vague and evasive.” Without formalized commitments, any peace agreement would be fragile and potentially temporary.
On Replacing Ermak with Budanov
Commenting on the departure of Andriy Ermak as head of his office, Zelensky stated that the decision was based on “his own reasons” and was not related to a corruption scandal. The new head of the presidential administration, Kyrylo Budanov, is reportedly more inclined toward compromise, including on territorial issues. Discussions have reportedly focused on scenarios in which Ukrainian forces could withdraw from certain areas of the Donbas while preventing further advances by Russian troops.
On a Missed Opportunity
After the recapture of Kherson in 2022, some U.S. officials encouraged Kyiv to begin negotiations with Moscow. However, substantive talks only resumed in 2025, under less favorable military conditions. Asked about a potential missed opportunity, Zelensky responded that Ukraine had never been opposed to ending the war, but that, in his view, Russia had not demonstrated readiness for dialogue.
