Berliner Boersenzeitung - Ukraine: Problem with the ceasefire?

EUR -
AED 4.326661
AFN 82.273942
ALL 97.898814
AMD 452.629971
ANG 2.108041
AOA 1080.157743
ARS 1459.669854
AUD 1.798908
AWG 2.12321
AZN 2.007149
BAM 1.955418
BBD 2.377585
BDT 144.451806
BGN 1.956287
BHD 0.443228
BIF 3508.115287
BMD 1.177925
BND 1.499675
BOB 8.137239
BRL 6.38271
BSD 1.177545
BTN 100.498238
BWP 15.596956
BYN 3.853566
BYR 23087.331819
BZD 2.365338
CAD 1.603215
CDF 3398.314319
CHF 0.935405
CLF 0.028547
CLP 1095.459023
CNY 8.440309
CNH 8.439249
COP 4712.218658
CRC 594.671311
CUC 1.177925
CUP 31.215015
CVE 110.243483
CZK 24.646321
DJF 209.341311
DKK 7.461454
DOP 70.474749
DZD 152.109697
EGP 58.022699
ERN 17.668876
ETB 163.423335
FJD 2.637615
FKP 0.862798
GBP 0.862601
GEL 3.204416
GGP 0.862798
GHS 12.187363
GIP 0.862798
GMD 84.22618
GNF 10213.006627
GTQ 9.054041
GYD 246.364006
HKD 9.2463
HNL 30.765995
HRK 7.530244
HTG 154.606543
HUF 399.203326
IDR 19062.0084
ILS 3.939983
IMP 0.862798
INR 100.936107
IQD 1542.566183
IRR 49620.09495
ISK 142.446936
JEP 0.862798
JMD 187.953315
JOD 0.835195
JPY 170.275556
KES 152.141258
KGS 103.010002
KHR 4731.076589
KMF 492.373101
KPW 1060.089343
KRW 1606.325121
KWD 0.359609
KYD 0.981408
KZT 611.529492
LAK 25374.508866
LBP 105506.967917
LKR 353.301043
LRD 236.098907
LSL 20.713857
LTL 3.478107
LVL 0.712516
LYD 6.342762
MAD 10.569437
MDL 19.835707
MGA 5298.853309
MKD 61.531087
MMK 2473.232981
MNT 4226.84635
MOP 9.521142
MRU 46.736878
MUR 52.948179
MVR 18.14445
MWK 2042.018775
MXN 21.952406
MYR 4.972067
MZN 75.340533
NAD 20.713418
NGN 1802.15516
NIO 43.331543
NOK 11.864468
NPR 160.792204
NZD 1.944493
OMR 0.452069
PAB 1.17757
PEN 4.175585
PGK 4.864051
PHP 66.570482
PKR 334.279155
PLN 4.24364
PYG 9383.969276
QAR 4.30386
RON 5.059075
RSD 117.399127
RUB 92.591703
RWF 1692.769606
SAR 4.417612
SBD 9.820272
SCR 16.592058
SDG 707.348348
SEK 11.256846
SGD 1.499974
SHP 0.925664
SLE 26.444855
SLL 24700.50455
SOS 672.95437
SRD 44.036774
STD 24380.6712
SVC 10.303989
SYP 15315.416699
SZL 20.696906
THB 38.082753
TJS 11.451765
TMT 4.134517
TND 3.430858
TOP 2.758823
TRY 46.955033
TTD 7.986272
TWD 34.086841
TZS 3117.621455
UAH 49.110415
UGX 4224.085893
USD 1.177925
UYU 47.260776
UZS 14787.113854
VES 128.951587
VND 30838.07893
VUV 140.328108
WST 3.064638
XAF 655.828995
XAG 0.031783
XAU 0.000353
XCD 3.183402
XDR 0.815779
XOF 655.828995
XPF 119.331742
YER 285.234989
ZAR 20.722353
ZMK 10602.74357
ZMW 28.525827
ZWL 379.291399
  • CMSC

    0.0900

    22.314

    +0.4%

  • CMSD

    0.0250

    22.285

    +0.11%

  • RBGPF

    0.0000

    69.04

    0%

  • SCS

    0.0400

    10.74

    +0.37%

  • RELX

    0.0300

    53

    +0.06%

  • RIO

    -0.1400

    59.33

    -0.24%

  • GSK

    0.1300

    41.45

    +0.31%

  • NGG

    0.2700

    71.48

    +0.38%

  • BP

    0.1750

    30.4

    +0.58%

  • BTI

    0.7150

    48.215

    +1.48%

  • BCC

    0.7900

    91.02

    +0.87%

  • JRI

    0.0200

    13.13

    +0.15%

  • VOD

    0.0100

    9.85

    +0.1%

  • BCE

    -0.0600

    22.445

    -0.27%

  • RYCEF

    0.1000

    12

    +0.83%

  • AZN

    -0.1200

    73.71

    -0.16%


Ukraine: Problem with the ceasefire?




As the war in Ukraine grinds towards its fourth year, a new proposal for a 30-day ceasefire has emerged from U.S. diplomatic circles, touted as a potential stepping stone to de-escalation. Russia's nefarious dictator and war criminal Vladimir Putin (72) has signalled cautious receptivity, provided the truce addresses the "root causes" of the conflict, while Ukrainian leaders remain wary. On the surface, a pause in hostilities offers a glimmer of relief for a war-weary population. Yet, beneath the diplomatic veneer, the proposed ceasefire is riddled with problems—strategic, political, and practical—that threaten to undermine its viability and, worse, exacerbate an already volatile situation.

A Temporary Fix with No Clear Endgame
The most glaring issue with the ceasefire is its brevity. At 30 days, it offers little more than a fleeting respite, unlikely to resolve the deep-seated issues fuelling the war. Russia’s demand to tackle "root causes"—a thinly veiled reference to its territorial ambitions and opposition to Ukraine’s NATO aspirations—clashes directly with Kyiv’s insistence on full sovereignty and the restoration of pre-2014 borders. Without a framework for meaningful negotiations, the ceasefire risks becoming a mere intermission, allowing both sides to regroup and rearm rather than pursue peace.

Historical precedent supports this scepticism. The Minsk agreements of 2014 and 2015, intended to halt fighting in eastern Ukraine, collapsed amid mutual accusations of bad faith. A short-term truce now, absent a robust enforcement mechanism or mutual trust, could follow a similar trajectory, leaving civilians to bear the brunt when hostilities inevitably resume.

The Strategic Dilemma for Ukraine
For Ukraine, the ceasefire poses a strategic conundrum. President Volodymyr Zelensky has spent years rallying domestic and international support around the mantra of "no concessions" to Russian aggression. Pausing the fight now, especially after the recent loss of territory in Russia’s Kursk region, could be perceived as a sign of weakness, emboldening Moscow and disheartening Kyiv’s allies. Ukrainian commanders, including Oleksandr Syrskii, have prioritised preserving troop strength, but a ceasefire might freeze their forces in disadvantageous positions, particularly along the eastern front, where Russia continues to press its advantage.

Moreover, the timing is suspect. The temporary suspension of U.S. intelligence support earlier this year left Ukraine reeling, and while that assistance has resumed, Kyiv remains on the back foot. A ceasefire now could lock in Russia’s recent gains, including reclaimed territory in Kursk, without guaranteeing reciprocal concessions. For a nation fighting for survival, this asymmetry is a bitter pill to swallow.

Russia’s Leverage and Bad Faith
On the Russian side, the ceasefire proposal raises questions of intent. Putin’s willingness to entertain a truce comes as his forces, bolstered by North Korean reinforcements, have regained momentum. The Kremlin may see the pause as an opportunity to consolidate control over occupied regions, reinforce supply lines, and prepare for a spring offensive—all while avoiding the political cost of appearing to reject peace outright. Moscow’s track record of violating ceasefires, from Donbas to Syria, fuels Ukrainian fears that any lull would be exploited rather than honoured.

The involvement of North Korean troops adds another layer of complexity. Their presence, a breach of international norms, has drawn muted criticism from Western powers, yet the ceasefire proposal does not explicitly address this escalation. Without mechanisms to monitor or reverse such foreign involvement, the truce risks legitimising Russia’s reliance on external support, further tilting the battlefield in its favour.

The Humanitarian Paradox
Proponents argue that a ceasefire would alleviate civilian suffering, particularly as winter tightens its grip on Ukraine’s battered infrastructure. Yet, this humanitarian promise is fraught with paradox. Russia has repeatedly targeted energy grids and civilian areas, a tactic likely to persist during any truce unless explicitly prohibited and enforced. A 30-day pause might allow limited aid delivery, but without guarantees of safety or a longer-term commitment, it could also delay the broader reconstruction Ukraine desperately needs.

For Ukrainian refugees and displaced persons—numbering in the millions—a temporary ceasefire offers no clarity on when, or if, they can return home. Meanwhile, Russian authorities in occupied territories have accelerated "Russification" efforts, including forced conscription and passportisation, which a short truce would do little to halt.

The Absence of Enforcement
Perhaps the most damning flaw is the lack of an enforcement mechanism. Who would monitor compliance? The United Nations, hamstrung by Russia’s Security Council veto, is ill-equipped to intervene. NATO, while supportive of Ukraine, has stopped short of direct involvement, and independent observers lack the authority to deter violations. Without a credible arbiter, the ceasefire hinges on goodwill—a commodity in short supply after years of bloodshed and broken promises.

A Fragile Hope Undermined by Reality
The proposed ceasefire reflects a well-intentioned but flawed attempt to pause a war that defies easy resolution. For Ukraine, it risks entrenching losses without securing gains; for Russia, it offers a chance to regroup under the guise of diplomacy. For both, it lacks the substance to bridge their irreconcilable aims. As the U.S. and its allies prepare to table the proposal, they must confront an uncomfortable truth: a truce that fails to address the conflict’s underlying drivers—or to enforce its terms—may do more harm than good, prolonging a war it seeks to pause.

In Kyiv, where resilience has become a way of life, the mood is one of cautious defiance. "We want peace," a senior Ukrainian official remarked this week, "but not at the cost of our future." Until the ceasefire’s proponents can answer that concern, its promise remains as fragile as the front lines it aims to still.