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International peace talks

Ukraine Peace Deal 'Really Close'

Analysis based on 9 articles · First reported Dec 07, 2025 · Last updated Dec 07, 2025

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General
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The prospect of a peace deal between Russia and Ukraine could lead to a positive market reaction, particularly in European markets and industries affected by the conflict, such as energy and defense. Resolution of the conflict could reduce geopolitical risk premiums and potentially stabilize commodity prices.

Defense Energy Government

US Special Envoy Keith Kellogg announced that a peace deal to end the war between Russia and Ukraine is 'really close', with negotiations hinging on the future of the Donbas region and the Zaporizhzhia Nuclear Power Plant. The conflict, which began with Russia's invasion in February 2022, has resulted in over two million casualties. Leaked US draft peace proposals, which reportedly conceded to Russia's demands on NATO and territorial control, have been a point of discussion. Ukrainian President Volodymyr Zelenskyy has engaged with Donald Trump's envoys, Steve Witkoff and Jared Kushner, with the Kremlin expecting Jared Kushner to lead the drafting of a potential agreement. The resolution of these two key issues is seen as crucial for the overall success of the peace efforts.

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Keith Kellogg, the outgoing US Special Envoy for Ukraine, is a key figure in the ongoing peace negotiations, stating that a deal is 'really close'.
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