Ukraine's Budanov Sees Progress in Peace Talks, Cites Russian War Costs

Kyrylo Budanov, the head of the Office of the President of Ukraine, has expressed cautious optimism that a peace agreement with Russia may be within reach. In an interview given on April 4th and published on April 10th, Budanov suggested that both sides are moving closer to a settlement and that the process might not take much longer.

"They all understand that the war must end. That is why they are negotiating. I don't think it will take much time," said Budanov, who is part of Ukraine's negotiation delegation.

He pointed to Russia's immense financial burden as a key factor pushing Moscow toward ending the conflict. According to Budanov, Russia is funding its military operations from its own resources, with costs already reaching into the trillions—a stark contrast to Ukraine's situation.

While acknowledging that a final decision has not yet been made, Budanov highlighted significant progress. "In principle, everyone now clearly understands the boundaries of what is acceptable. This is huge progress," he stated.

The Ukrainian official noted that although both Kyiv and Moscow initially held "maximalist" positions at the negotiating table, they are now converging in search of a compromise. He declined to specify what a mutually acceptable agreement on Donbas might look like. Russia has demanded the withdrawal of Ukrainian Armed Forces from the parts of the region still under Kyiv's control.

Commenting on Russia's military capacity, Budanov claimed that by the end of 2025, Russia could potentially mobilize a reserve force of 23.5 million people if necessary—a number far exceeding what Ukraine can muster as it grapples with its own troop shortages.

However, sources close to the Kremlin presented a less optimistic view to Bloomberg, suggesting that real progress in talks has been minimal. They indicated that dialogue has largely reached an impasse due to a lack of compromise on security guarantees for Kyiv. One source noted that by 2026, the only tangible result of negotiations was both sides defining positions unacceptable to each other.

Addressing the possibility of talks collapsing entirely, Budanov outlined a stark choice: "There are only two options—war or peace. Not just a continuation of war, but a continuation of negotiations. If they agree to this—and they may not agree."

The statements come as Russia announced an "Easter truce" with Ukraine. According to a Kremlin press service statement, the ceasefire was set to last from 16:00 Moscow time (18:00 Astana time) on April 11th until nightfall on April 12th.