A group of Ukraine’s key European allies are working with Kyiv on plans to bring Russia to the negotiating table, in the latest sign that the tide may be shifting in Ukraine’s favour.
Officials from Germany, France and the UK, Europe’s three biggest economies, have been discussing the possibility of holding talks and have discussed the matter with their Ukrainian counterparts, according to Bloomberg.
As Russia continues to face mounting losses and peace talks are at a standstill, people familiar with the matter said the nations view it as an opportunity to negotiate with Putin.
In addition, Ukrainian long-range attacks have increasingly targeted the infrastructure underpinning Russia’s war effort.
Over recent months, Kyiv has repeatedly struck refineries, oil terminals, pumping stations and export facilities deep inside Russian territory.
And warnings are growing from inside the country that Russia’s economy is coming under severe pressure.
Russia’s Finance Ministry and central bank have warned that the government’s budget deficit could widen to dangerous levels if military spending continues at its current pace.
The allies believe that by negotiating now, another winter that will likely see Russia intensify its attacks on civilians and energy infrastructure can be avoided, as Putin seeks to undermine the Ukrainian morale.
Germany , France and the UK, Europe’s three biggest economies, have been discussing the possibility of holding talks
The Russian president has repeatedly accused Western governments of facilitating Ukrainian strikes inside Russia
The insiders said that any decision on whether to pursue talks with Russia ultimately rests with Zelensky, and that European leaders have no intention of pressuring the Ukrainian president into a negotiating strategy he does not support.
According to the sources, UK Prime Minister Keir Starmer is expected to discuss the issue with Germany’s Friedrich Merz and France’s Emmanuel Macron in the coming days.
Yesterday, Zelensky said he had discussed ‘our joint diplomacy with Europe’ in a call with Starmer.
‘Europe definitely needs its own voice, its own position, and its own contribution to all diplomatic efforts that can help end the war,’ Zelensky said in a post on X , adding: ‘We coordinated on how to get there.’
Whether Putin is prepared to engage with European leaders remains uncertain, however.
The Russian president has repeatedly accused Western governments of facilitating Ukrainian strikes inside Russia and continues to view the US as the key mediator for any agreement that would satisfy Moscow’s demands.
That remains the case even as US President Donald Trump has shifted his attention away from Ukraine peace efforts and toward the conflict with Iran.
Nevertheless, Putin appeared to leave the possibility of talks open during remarks to reporters in Kazakhstan on Friday.
‘It is up to us to decide whether to meet with this or another actor in today’s Western European politics,’ he said.
‘They have yet to propose their pick, and we will also see whether they will do it or not, whether we need to meet with this or that politician or not, or whether we can trust them in one way or another.’
Critics of the idea of engaging with Russia meanwhile have said allies should instead use this moment to provide Ukraine with the military aid they need and increase sanctions on Russia.
The plan comes as the situation is intensifying, with Ukraine staging a massive attack on a major oil port in St Petersburg on Wednesday.
Kyiv struck at the heart of Russia’s oil industry, embarrassing the Kremlin on the world stage and compounding a growing list of military and economic setbacks.
The oil terminal on the Gulf of Finland is one of Russia’s largest fuel storage and export facilities, handling 12.5 million tonnes of fuel annually.
The strike occurred shortly before the St Petersburg International Economic Forum, known as ‘Russia’s Davos’, where Putin seeks to project economic strength and international relevance despite Western sanctions and the war in Ukraine.
The attack made a mockery of the forum’s theme, ‘Pragmatic dialogue – the path to a stable future’, while also exposing glaring weaknesses in Russian air defences.
The facility is located just 12 miles from the forum venue, yet Moscow failed to prevent the strike.
It is the latest in a string of successful Ukrainian long-range attacks that have increasingly targeted the infrastructure underpinning Russia’s war effort.
Volodymyr Zelensky brought the war to the dictator’s birthplace setting ablaze a key oil port
The cumulative effect has been to place increasing strain on Russia’s energy sector, which remains the primary source of funding for the Kremlin’s war machine.
Ukraine’s stepped-up strikes on targets inside Russia allow Kyiv to negotiate the end of the war on an equal footing, President Volodymyr Zelensky said on Wednesday.
He hailed his army’s overnight strikes on Saint Petersburg as a ‘fair’ response to Russian attacks on his country and threatened to further ramp up Kyiv’s retaliatory hits.
‘I believe these are fair strikes. Just a day ago, there was a massive attack. We responded accordingly,’ Zelensky told reporters in Kyiv, adding: ‘It’s just a matter of time before we can scale up the intensity of our responses.’
It comes as Russian officials are reportedly debating spending cuts as the Kremlin struggles to balance the soaring costs of the war.
Domestically, cuts have been proposed to defence spending, with officials advising it will be difficult to fix Russia’s stretched finances without finding a solution.
However, disagreement among policymakers has emerged, with senior Defence Ministry figures and some Kremlin officials committed to fulfilling Putin’s wartime objectives arguing that military spending should be shielded from cuts.
They argue that reducing defence expenditure would inflict significant harm on the economy, given the large number of businesses that depend on military contracts.
According to several people familiar with the discussions, Putin has instructed Finance Ministry officials to identify savings in other areas of the budget before considering reductions to defence spending.
And two people close to Putin’s government have revealed that the Defence Ministry is demanding extra funding.
Defence spending may need to rise further this year to cover a budget gap that could reach three trillion rubles (£31 billion), while Russia’s budget deficit has already climbed to 5.9 trillion rubles, equivalent to 2.5 per cent of GDP.
Even rising oil revenues linked to turmoil in the Middle East have failed to close the gap.
Finance Minister Anton Siluanov acknowledged the growing pressure, saying: ‘Reserves are not endless. Weakness in finances cannot be tolerated in the context of such large-scale transformations in the world.’
