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  1. *Alberto Nardelli for Bloomberg News*

    Ukraine and its Europeans allies will insist that discussions with Russia on any territorial swaps can only take place once the war ceases along the current line of contact, according to people familiar with a counter-proposal that will be presented to the US later today in Switzerland.

    Their response to the US 28-point plan asks for a security guarantee from Americans that mirrors NATO’s Article 5 mutual-defense clause and demands that frozen Russian assets be used to reconstruct and compensate Kyiv, according to the people who spoke on condition of anonymity to discuss private deliberations. They reject Moscow’s demands that Kyiv cede unoccupied territory in the east.

    Furthermore, the US would be compensated for the robust guarantees it provides and Russian assets would stay frozen unless Moscow agrees to pay for the damage it has caused.

    [Read the full story here.](https://www.bloomberg.com/news/articles/2025-11-23/ukraine-seeks-nato-like-shield-from-us-counter-proposal-says?accessToken=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJzb3VyY2UiOiJTdWJzY3JpYmVyR2lmdGVkQXJ0aWNsZSIsImlhdCI6MTc2Mzg5NDQ1OCwiZXhwIjoxNzY0NDk5MjU4LCJhcnRpY2xlSWQiOiJUNjZCS0NLSVVQUzUwMCIsImJjb25uZWN0SWQiOiJEMzU0MUJFQjhBQUY0QkUwQkFBOUQzNkI3QjlCRjI4OCJ9.PFCC6-lJ4DmsyzM4GD5pd8tiw8XLcAA7oxbUZNtejXw)

  2. What’s the point of US guarantees? Trumpist is breaking agreements on a daily basis. What happened to the mineral deal? Where is it now? It wouldn’t be worth the paper it would have been signed on.

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