Commodities March 26, 2026

Kremlin lauds Zelenskiy remarks tying US guarantees to Donbas concession

Russian envoy says Kyiv’s own comments align with Moscow’s reading of Washington’s stance; energy and reconstruction topics surface in bilateral talks

By Marcus Reed
Kremlin lauds Zelenskiy remarks tying US guarantees to Donbas concession

Russia said it was encouraged by Ukrainian President Volodymyr Zelenskiy’s statement that the United States has conditioned security guarantees on Ukraine surrendering the Donbas region. Kremlin special envoy Kirill Dmitriev described Zelenskiy’s remark as validation of Moscow’s interpretation of U.S. policy, and outlined ongoing talks with Washington that touch on economic cooperation and post-conflict reconstruction. The Kremlin also reported recent Ukrainian drone strikes on Russian energy infrastructure and cited a severe reduction in oil export capacity.

Key Points

  • Russia welcomed Zelenskiy’s statement that the United States links security guarantees to Ukraine giving up Donbas, with Kremlin envoy Kirill Dmitriev saying the remark "can't help but make us happy."
  • Dmitriev reported ongoing negotiations with the U.S. on future economic cooperation and reconstruction financing, noting meetings with special envoy Steve Witkoff and Jared Kushner and saying the U.S. played a "positive and constructive" role in the EU decision not to seize 210 billion euros of Russian sovereign assets for a Ukrainian loan.
  • Russia said it had informed the U.S. about recent Ukrainian drone strikes on Russian energy infrastructure; at least 40% of Russian oil export capacity is reportedly halted following those strikes, a disputed pipeline attack and tanker seizures, described as the most severe oil supply disruption in modern Russian history.

Russia expressed satisfaction after Ukrainian President Volodymyr Zelenskiy signaled that Washington links its offer of security guarantees to Kyiv relinquishing control over the eastern Donbas region, a senior Kremlin official said on Thursday.

Kirill Dmitriev, identified by Moscow as a special envoy involved in talks with the United States, told reporters that Zelenskiy’s remark "can't help but make us happy." Dmitriev added: "He said an important thing... he finally understood that the U.S. position is that they’ll only support security guarantees if Ukraine quits Donbas."

In an interview, Zelenskiy had told reporters that in the context of the U.S.-Israeli conflict with Iran, President Donald Trump was exerting pressure on Kyiv to reach an end to the four-year war that followed Russia's 2022 invasion of Ukraine. While acknowledging the U.S. posture on Donbas, Zelenskiy asserted that Washington must grasp "that the eastern part of our country is part of our security guarantees." He said he seeks robust security guarantees from international partners to help prevent Moscow from resuming hostilities after any peace agreement is concluded.


Bilateral negotiations and reconstruction

Dmitriev, whom Russian officials describe as a principal negotiator with the United States, has met several times with special envoy Steve Witkoff and with Jared Kushner, who is President Trump's son-in-law. He said negotiations between Moscow and Washington on future economic cooperation were continuing, and he criticized Russia's adversaries as being "in a state of madness" over the talks.

Among the topics Dmitriev said were under discussion was raising funds to rebuild areas damaged by the conflict. As an example of U.S. involvement, he pointed to Washington's role in the European Union's decision last year not to seize 210 billion euros worth of Russian sovereign assets for a loan to Ukraine, calling the U.S. role "positive and constructive."


Security incidents and energy impact

At the same time, Dmitriev emphasized that ongoing discussions with the United States did not preclude Moscow from undertaking firm measures elsewhere if required. He cited what he described as "provocations, including from the EU and Britain, against our fleet, which they are trying to arrest."

He also told U.S. interlocutors about recent drone strikes by Ukraine on Russian energy infrastructure, characterizing those attacks as an effort to exacerbate the global energy crisis. The article noted that at least 40% of Russia's oil export capacity is at a halt following Ukrainian drone attacks, a disputed attack on a major pipeline and the seizure of tankers, according to Reuters calculations. It added that this represents the most severe oil supply disruption in the modern history of Russia.


What officials said

  • Kirill Dmitriev: "can't help but make us happy" and "He said an important thing... he finally understood that the U.S. position is that they’ll only support security guarantees if Ukraine quits Donbas."
  • Volodymyr Zelenskiy: Washington needs to understand "that the eastern part of our country is part of our security guarantees" and he seeks strong security guarantees from partners to prevent a resumption of hostilities.

The comments reflect the overlapping diplomatic and security discussions underway between Moscow and Washington, alongside ongoing tensions that have included attacks on energy infrastructure and disputes over maritime assets. Dmitriev framed the talks on reconstruction and economic ties as moving forward even as he warned of other confrontational developments.

Risks

  • Security guarantee negotiations that hinge on the fate of Donbas create uncertainty for diplomatic settlement - impacts political risk assessments for defense and diplomatic sectors.
  • Ongoing confrontations cited by Russian officials, including alleged "provocations" against the fleet, raise the possibility of further maritime incidents - affecting shipping, insurance, and naval logistics.
  • Significant disruption to Russia's oil export capacity following strikes and seizures heightens energy market volatility and poses supply risk for global energy markets and related industries.

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