Kyrylo Budanov, Ukraine's chief negotiator with Russia, said in an interview published this week that ongoing discussions are making headway toward a potential peace deal.
Speaking to Bloomberg News last week, Budanov, who now heads President Volodymyr Zelenskiy's office, said he believes Russia also wants an end to the conflict. "They all understand the war needs to end. That's why they are negotiating," he said. On timing, Budanov added: "I don't think it will be long."
Budanov previously led Ukraine's military intelligence from 2020 until January, when he was appointed to his current civilian post. He remains a lieutenant general and plays a central role in three-way negotiations involving Ukraine, the United States and Russia aimed at ending the war, which is now in its fifth year.
In addition to his diplomatic responsibilities, Budanov manages prisoner exchange operations with Russia that have resulted in the return of hundreds of Ukrainian captives, the interview noted.
Financial markets reacted to the comments. On Friday, Ukraine's dollar bonds extended a rally, with the nation's 2034 dollar-denominated security rising almost 4 cents on the dollar to around 62 cents - the highest level observed in about a month. The bond move was the largest among emerging market sovereign issues that day.
At the same time, the Kremlin issued a statement on Friday cautioning that a visit to the United States by President Vladimir Putin's special investment envoy did not mean that formal negotiations on a peace accord had resumed. Kirill Dmitriev, described by officials as Putin's special investment envoy, was reported to have met with members of President Donald Trump's administration while in the United States for discussions on both a peace deal and U.S.-Russia economic cooperation. That reporting appeared on Thursday.
The available reporting captures remarks from key Ukrainian officials, recent market movements in Ukraine's sovereign debt and a Kremlin clarification regarding the status of talks following a high-level Russian visit to the United States. The pieces of information together outline both signs of negotiation activity and statements pointing to lingering uncertainty about whether talks have formally restarted.