European leaders flocking to meet Trump—Will there be an end-of-war scenario for Ukraine?

Source
Korea Economic Daily

Summary

  • U.S. and European leaders are reported to be focused on discussions about a security guarantee for Ukraine during their summit with President Trump.
  • It was revealed that Trump has been considering Putin’s proposal to divide eastern Ukrainian territory favorably.
  • Should the U.S. officially commit to a security guarantee for Ukraine, investors are advised to pay attention to the resolution of related uncertainties and shifts in future geopolitical risks.

Leaders of major European countries and Ukraine, ahead of their meeting with President Donald Trump at the White House in the United States, are drawing attention as they issue strong statements in support of America’s security assurances for Ukraine and speculation grows over whether ‘end-of-war’ negotiations could take place.

President Trump met with Russian President Vladimir Putin in Alaska, U.S. territory, on the 15th, though their bilateral talks ended without a concrete agreement on the Ukraine war. However, both Trump and Putin stated that there had been significant progress, and key parties—the leaders of Ukraine and Europe—are expected to meet on the 18th at the White House to share the results of the talks and discuss future plans.

This time, leaders from countries involved in the ‘Coalition of the Willing’ will take part. Among attendees are Emmanuel Macron, President of France; Keir Starmer, Prime Minister of the United Kingdom; Friedrich Merz, Chancellor of Germany; Giorgia Meloni, Prime Minister of Italy; Alexander Stubb, President of Finland and known to have a close relationship with Trump; Ursula von der Leyen, President of the European Commission; and Mark Rutte, Secretary General of NATO, among others.

It has been reported that Trump supports Putin’s proposal to fully control two regions in eastern Ukraine up to the areas not under Russian military occupation, in exchange for freezing the front lines in two other regions. Essentially, Putin is demanding that Ukraine relinquish Donbas, which comprises Donetsk and Luhansk, and in return, the Russian military would suspend its offensive in Kherson and Zaporizhzhia in the south, where Ukraine still maintains control over major cities.

In the end, it appears at the U.S.-Russia talks that Russia conveyed it would accept a security guarantee regime for Ukraine, similar to, but not the same as, NATO membership, if Ukraine cedes territory. Russia claimed to have annexed four regions of Ukraine in September 2022, though it is reportedly yet to achieve full control over them.

Ukraine and Europe have criticized Trump’s pursuit of a peace agreement as aligning with Putin’s long-standing position, arguing it is a strategy to buy time on the battlefield.

On the 17th (local time), ahead of the summit, Volodymyr Zelenskyy, President of Ukraine, praised the possibility of U.S. security guarantees as a “historic decision,” adding, “Security guarantees must be ensured on land, in the air, and at sea, and must be secured with Europe’s participation.”

Zelenskyy also called for a “trilateral summit involving the leaders of Ukraine, the United States, and Russia,” emphasizing that “Ukraine must resolve the core issues.” Additionally, after holding a virtual conference with the ‘Coalition of the Willing,’ the attending national leaders also expressed high praise for President Trump’s promise of security guarantees for Ukraine.

With Trump not having made an official commitment to security guarantees for Ukraine, it is being interpreted that Ukraine and European leaders are presenting this as a fait accompli and ramping up pressure.

On the same day, U.S. Secretary of State Marco Rubio also suggested in an interview with Fox News that Trump may propose a plan for a U.S. security guarantee for Ukraine in talks with Ukraine and major European countries. To a question on what kind of security assurances the U.S. would be willing to offer, he responded, “There’s a lot that Europe can do and propose,” adding, “If President Trump proposes an American commitment to a security guarantee, that would be a major move.”

He continued, “If he does so, it shows just how much he desires peace and values peace, enough to be willing to make such a concession. But ultimately, it’s a decision the President must make.”

However, in a previous interview with NBC, regarding security guarantees, he said, “How we structure it, what we call it, how we create it, and what kind of enforcement mechanism we put in place are things we’ll be discussing with partners arriving from abroad tomorrow and over the coming days.”

Kim So-yeon, Hankyung.com journalist sue123@hankyung.com

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Korea Economic Daily

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