The clauses in the 28-point peace plan between Russia and the US are a complete capitulation of Ukraine to Russia's initial military demands. Western media and Ukrainian Verkhovna Rada deputy Oleksiy Goncharenko published the plan on November 20.
This is what the Institute for the Study of War (ISW) writes.
Many of the points coincide with previous Western reports.
White House Press Secretary Caroline Leavitt confirmed on November 20 that US Special Envoy for the Middle East Steve Witkoff and US Secretary of State Marco Rubio have been working on the plan since mid-October 2025 and that they have engaged "equal" both Russia and Ukraine.
Key Russian officials continue to deny the peace plan.
The reported peace plan contains no provisions in which Russia makes any concessions. ISW continues to assess that accepting the Russian demands would create the conditions for renewed Russian aggression against Ukraine.
Many of the provisions in the full text are consistent with the Kremlin’s initial demands from Istanbul in 2022, which amounted to a complete surrender of Ukraine, even though the battlefield situation has changed significantly in the years since and has forced Russia to resort to fierce offensives to achieve minor tactical advances.
The Kremlin has consistently reiterated that it intends to achieve all of its military objectives diplomatically or militarily, setting informational conditions to justify renewed aggression against Ukraine at a later date.
This plan would put an end to Russian President Vladimir Putin’s victory theory, which is based on the assumption that the Russian military and economy can outlast Western support for Ukraine, and would reinforce the Kremlin’s belief that The Kremlin can achieve its maximalist goals against Ukraine and elsewhere with minimal international repercussions.
The reported peace plan cedes all Western and Ukrainian leverage to Russia.
Russian officials continue to reaffirm their commitment to Russia's original military goals and blame Ukraine for Russia's own unwillingness to compromise.
Senior Russian officials reiterated on November 19 and 20 the Kremlin's demand that an end to the war address the alleged "root causes" for the war, which the Kremlin has long used as shorthand for its original war justifications, and expanded the false narrative that a Russian victory in Ukraine is inevitable.
Kremlin spokesman Dmitry Peskov said Russia was engaged in the talks but shifted the blame to Ukraine and the West for the stalemate in peace talks as a result of Russia's reluctance to make concessions to end the war.
Some Russian officials have expressed doubt or rejected some of the components of the reported peace agreement, despite the significant benefits it would bring to Russia.
The Kremlin continues to use a combination of economic incentives and nuclear arms-rattling to squeeze concessions from the United States to normalize U.S.-Russian relations without making reciprocal concessions to end the war.
The United States and Russia are also expected to agree to extend nonproliferation treaties of nuclear weapons, including the New Strategic Arms Reduction Treaty (START), that Russia would be reintegrated into the global economy, including multi-stage sanctions relief and bilateral agreements for long-term economic cooperation between the United States and Russia, and that about 50 percent of the profits from frozen Russian assets would be invested in a joint investment vehicle between the United States and Russia.