Berliner Boersenzeitung - Ukraine: Problem with the ceasefire?

EUR -
AED 4.318041
AFN 74.66498
ALL 95.284594
AMD 433.815179
ANG 2.104507
AOA 1079.364092
ARS 1638.152593
AUD 1.627104
AWG 2.1164
AZN 1.999061
BAM 1.954475
BBD 2.368774
BDT 144.571991
BGN 1.961317
BHD 0.443895
BIF 3500.60776
BMD 1.175778
BND 1.493337
BOB 8.125006
BRL 5.746263
BSD 1.176093
BTN 112.017007
BWP 15.813145
BYN 3.288942
BYR 23045.247056
BZD 2.365376
CAD 1.609105
CDF 2599.644189
CHF 0.916466
CLF 0.026804
CLP 1054.931214
CNY 7.989332
CNH 7.986553
COP 4422.524003
CRC 539.029994
CUC 1.175778
CUP 31.158115
CVE 110.552507
CZK 24.334253
DJF 209.434457
DKK 7.471028
DOP 69.632202
DZD 155.508305
EGP 62.139977
ERN 17.636669
ETB 183.639344
FJD 2.570074
FKP 0.861347
GBP 0.866372
GEL 3.145175
GGP 0.861347
GHS 13.274006
GIP 0.861347
GMD 85.832117
GNF 10319.652977
GTQ 8.974497
GYD 245.950382
HKD 9.204449
HNL 31.272534
HRK 7.533446
HTG 153.920417
HUF 356.806855
IDR 20583.579632
ILS 3.419455
IMP 0.861347
INR 112.328707
IQD 1540.742389
IRR 1542094.452951
ISK 143.597974
JEP 0.861347
JMD 185.542638
JOD 0.83365
JPY 185.000427
KES 151.788249
KGS 102.821373
KHR 4718.640588
KMF 492.650748
KPW 1058.221573
KRW 1747.000189
KWD 0.362151
KYD 0.980131
KZT 544.88829
LAK 25800.399553
LBP 105455.282067
LKR 378.841563
LRD 215.431893
LSL 19.330014
LTL 3.471766
LVL 0.711216
LYD 7.43883
MAD 10.69517
MDL 20.158163
MGA 4889.622824
MKD 61.637551
MMK 2467.90345
MNT 4210.284673
MOP 9.48449
MRU 46.961764
MUR 54.915909
MVR 18.119133
MWK 2039.391428
MXN 20.25442
MYR 4.625496
MZN 75.129663
NAD 19.330014
NGN 1603.13781
NIO 43.279004
NOK 10.814158
NPR 179.255953
NZD 1.975118
OMR 0.45209
PAB 1.175888
PEN 4.040561
PGK 5.10845
PHP 72.185125
PKR 327.633503
PLN 4.242853
PYG 7228.976333
QAR 4.28277
RON 5.202468
RSD 117.363801
RUB 86.53803
RWF 1720.012018
SAR 4.411263
SBD 9.444152
SCR 16.214316
SDG 706.051567
SEK 10.875428
SGD 1.494819
SHP 0.877837
SLE 28.927693
SLL 24655.470397
SOS 672.138624
SRD 43.978205
STD 24336.228872
STN 24.482986
SVC 10.29098
SYP 129.958054
SZL 19.323736
THB 38.015269
TJS 11.006566
TMT 4.12698
TND 3.364488
TOP 2.830991
TRY 53.375967
TTD 7.972561
TWD 37.0129
TZS 3062.90164
UAH 51.686701
UGX 4421.231884
USD 1.175778
UYU 46.880308
UZS 14280.197647
VES 587.694976
VND 30955.880841
VUV 139.122098
WST 3.185529
XAF 655.504255
XAG 0.013818
XAU 0.00025
XCD 3.177598
XCG 2.119654
XDR 0.815237
XOF 655.501469
XPF 119.331742
YER 280.532086
ZAR 19.394045
ZMK 10583.408589
ZMW 22.236736
ZWL 378.600008
  • RBGPF

    -2.6100

    61

    -4.28%

  • RELX

    -0.3100

    33.27

    -0.93%

  • BCE

    0.1400

    24.28

    +0.58%

  • CMSC

    0.0100

    23.12

    +0.04%

  • BTI

    2.1600

    60.44

    +3.57%

  • RIO

    2.5200

    107.9

    +2.34%

  • GSK

    -0.6000

    49.81

    -1.2%

  • BP

    0.8800

    44.22

    +1.99%

  • NGG

    0.2700

    87.16

    +0.31%

  • RYCEF

    0.2200

    16.59

    +1.33%

  • BCC

    -1.4700

    69.2

    -2.12%

  • CMSD

    0.0763

    23.61

    +0.32%

  • JRI

    -0.0197

    13.13

    -0.15%

  • VOD

    0.1200

    16.32

    +0.74%

  • AZN

    -0.9900

    181.86

    -0.54%


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.