Ukraine will current revised 20-point peace plan to US at the moment after Zelensky was promised billions in frozen Russian belongings to fund struggle efforts

Ukraine is set to present a revised 20-point peace plan to the US on Tuesday after President Volodymyr Zelensky was promised billions of pounds of frozen Russian assets held in the UK to fund its war effort.

As the war approaches its fourth year, Kyiv is under pressure from the White House to agree swiftly to a peace settlement, while desperately trying to counterbalance a US-backed draft proposal that has been widely viewed as favourable to Moscow.

A hastily convened summit on Monday at Downing Street, hosted by British Prime Minister Keir Starmer and attended by French President Emmanuel Macron, German Chancellor Friedrich Merz and Zelensky, was designed to strengthen Ukraine’s negotiating hand.

It comes as Zelensky on Tuesday met Pope Leo at the papal residence of Castel Gandolfo, where the pontiff stressed the need to continue with dialogue aiming at a ‘just and lasting peace’.

Speaking after Monday’s meeting, Zelensky confirmed that Ukraine’s revised plan contains 20 points, but admitted that the biggest issue – surrendering territory – remains unresolved.

‘The mood of the Americans, in principle, is for finding a compromise,’ he said. ‘Of course, there are complex issues related to the territory, and a compromise has not yet been found there’.

He again insisted that Ukraine could not give up any of its land.

In a dramatic financial twist, Sir Keir also told Zelensky he was ready to allow Ukraine to use billions of pounds of frozen Russian assets held in the UK to fund its war effort.

Whitehall sources told Daily Mail that ministers are close to agreeing a deal granting Kyiv access to vast sums seized after Vladimir Putin launched his invasion of Ukraine in February 2022. 

One source said a decision could be taken ‘within days’ to unlock Kremlin-linked assets estimated to be worth around £8billion.

‘He is updating Zelensky on the wider support on offer to Ukraine, including using the value of immobilised Russian assets,’ the source said. ‘We hope to see movement on that issue soon.’

The push forms part of a wider European effort that could unlock tens of billion of pounds frozen across the continent.

However, the idea of permanently seizing Russian assets has triggered legal and diplomatic fears.

Belgium, where much of the money is held, has resisted the move over concerns about reprisals, including possible legal action from the Kremlin.

Sir Keir is expected to raise the issue with Belgian counterparts this week.

Meanwhile Zelensky flew to Brussels where he met European Commission President Ursula von der Leyen and European Council President Antonio Costa, who both insisted any deal must respect Ukraine’s sovereignty and guarantee long-term security.

Writing on Telegram, Zelensky described his meetings with the EU chiefs and NATO Secretary-General Mark Rutte as ‘good and productive. We are acting in a coordinated and constructive manner’.

British government sources said Monday’s talks also focused on proposals to use frozen Russian assets across Europe, with leaders from Estonia, Finland, Latvia, Ireland, Lithuania, Poland and Sweden urging the European Union to accelerate stalled plans to release funds to Kyiv.

The European powers are also pushing for US security guarantees to deter future Russian attacks, following Moscow’s full-scale invasion of Ukraine in February 2022.

The publication of an American ceasefire plan last month has sharpened fears among European leaders that Ukraine could be forced into accepting sweeping Russian demands, potentially destabilising the entire continent.

Despite US officials claiming they are at the final stage of an agreement, there has been little sign that either side is ready to sign off on the framework drawn up by Donald Trump’s negotiators.

‘We stand with Ukraine and, if there was to be a ceasefire, it has to be a just and lasting ceasefire,’ Sir Keir said after welcoming leaders to Downing Street.

Macron and Merz echoed that determination, with the German Chancellor warning the moment was ‘decisive… for all of us’.

Zelensky highlighted the diplomatic balancing act facing Europe.

‘There are some things we can’t manage without the Americans, things we can’t manage without Europe; that’s why we need to make some important decisions,’ he said.

In a late-night address to Ukrainians, he warned that a ‘new diplomatic week’ was beginning.

‘First and foremost, security issues, support for our resilience, and support packages for our defence. First and foremost, air defence and long-term funding for Ukraine. Of course, we will discuss a shared vision and common positions in the negotiations,’ he said.

Ukraine is enduring one of its darkest chapters of the war. Russian troops continue grinding advances in the east while brutal strikes on the power grid have left cities and towns facing hours-long blackouts.

US President Donald Trump’s envoy Steve Witkoff and his son-in-law Jared Kushner took a revised plan to Moscow last week before holding further talks with Ukrainian officials in Miami. Those discussions ended on Saturday without a breakthrough.

Zelensky described the talks as constructive but difficult. Donald Trump said on Sunday he was ‘disappointed’ with Zelensky, accusing him of failing to read the latest US-backed proposals.

Last night, Zelensky revealed Ukraine is short of around £600million to buy US weapons it had planned to purchase this year with European support.

During the London summit, while leaders were keen to praise Trump’s peace efforts to avoid antagonising the US president, Merz openly criticised aspects of the American plan.

‘I’m sceptical about some of the details which we are seeing in the documents coming from the US side, but we have to talk about that, that is why we are here,’ he said. 

‘This could be a decisive time for all of us, so we are trying to continue our support for Ukraine. Nobody should doubt our support for Ukraine.’

Sir Keir insisted Ukraine needed ‘hard-edged security guarantees’, praising Trump for pushing peace talks ‘the furthest it has been in four years’, but warning that any peace must be ‘lasting,’ because ‘Putin does not respect agreements that don’t have hard-edged security guarantees behind them’.