That's what it's about

• Ukraine and European states present a peace plan.
• The plan envisages a freeze on the war on the front line.
• Ukraine receives security guarantees and a path to EU membership.

Ukraine and European states are proposing a 12-point peace plan. Bloomberg reported this Tuesday evening, citing people familiar with the matter. The proposal is still being drafted and is subject to change.

According to the plan, the war on the front line is to be frozen. This corresponds to Trump's calls last week to freeze the conflict before negotiations begin. The subsequent process is to be overseen by a peace panel headed by Trump. This is what is known so far:

This is what Ukraine should receive

Once Russia and Ukraine both agree to a ceasefire, the proposal calls for the return of all deported children to Ukraine and the exchange of prisoners.

Ukraine would receive security guarantees, funds to repair the damage caused by the war, and a path to rapid accession to the European Union.

Russia should receive this

Sanctions against Russia would be gradually lifted. However, approximately $300 billion in frozen central bank reserves would only be returned if Moscow agreed to contribute to Ukraine's post-war reconstruction.

Moscow and Kyiv would begin negotiations on the administration of the occupied territories, although neither Europe nor Ukraine would legally recognize occupied territories as Russian.

How realistic is the proposal?

Russia has so far rejected calls to end the fighting along the existing front lines. On Tuesday, Putin canceled a summit between him and Trump, saying he was unwilling to freeze the war in the near future.