The latest round of Russia-Ukraine talks in Geneva ended in about two hours, raising fresh questions about whether the negotiations are moving forward. The discussions were intended to push the peace process ahead, but a Ukrainian official told Reuters that the meeting concluded far sooner than expected.
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The Geneva meeting followed two earlier rounds of US-brokered talks in Abu Dhabi, which also ended without a major breakthrough. The two sides have remained far apart on key issues, particularly control over territory in eastern Ukraine.
Territory remains the central sticking point
Russia currently occupies about 20 per cent of Ukraine’s national territory, including Crimea and parts of the eastern Donbas seized before the 2022 full-scale invasion. Recent Russian airstrikes on energy infrastructure have left hundreds of thousands of Ukrainians without heating and power during a harsh winter.
Ukrainian President Volodymyr Zelenskiy said the negotiations had been "difficult" and accused Russian delegates of delaying progress toward an agreement to end the war. He also clarified Ukraine’s position on territory, stating that any plan requiring Ukraine to give up land that Russia has not captured in the eastern Donbas region would be rejected by Ukrainians if put to a referendum, according to Reuters.
“Yesterday's meetings were indeed difficult, and we can state that Russia is trying to drag out negotiations that could already have reached the final stage,” Zelenskiy wrote on X after the Geneva talks.
On the other side, Russian news agencies quoted a source saying the Tuesday talks were "very tense" and lasted six hours in different bilateral and trilateral formats.
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Markets react as uncertainty continues
The uncertainty surrounding the talks was reflected in financial markets. Following reports of stalled progress, Ukrainian government bonds fell by as much as 1.9 cents on the dollar in morning trade in Europe.
For now, the talks have ended, but core disagreements remain and the path to a settlement remains unclear. Reuters reported that in the lobby of a hotel in Geneva, Russian chief negotiator Vladimir Medinsky told reporters that further negotiations would be held soon, though he did not specify a date.