Kyrylo Budanov, head of Ukraine's presidential office and a key figure in the country's negotiating team, believes a peace deal with Russia could come soon. He made the remarks in an April 4 interview with Bloomberg.
As Hvylya reports, citing Bloomberg, Budanov expressed optimism about the trajectory of three-way negotiations involving the US and Russia.
"They all understand the war needs to end. That's why they are negotiating," Budanov said. "I don't think it will be long."
Both sides have maintained "maximalist" positions so far, he acknowledged, but are gradually moving closer to a compromise. No final decision has been made on territory - the thorniest issue at the talks.
"But, in principle, everyone now clearly understands the limits of what is acceptable. That's enormous progress," he added.
Russia has a clear incentive to strike a deal, Budanov argued. "Unlike us, they are spending their own money. These are enormous sums - already in the trillions."
Sources close to the Kremlin painted a different picture. They told Bloomberg that little real progress has been made, with discussions largely stalled over security guarantees for Kyiv. The only tangible outcome so far: both sides have outlined positions unacceptable to the other.
Budanov called it a key achievement that the Trump administration remains engaged as a mediator. Ukraine expects top White House envoys Steve Witkoff and Jared Kushner to visit Kyiv - possibly next week - in what would be their first trip to Ukraine during the war. A US official confirmed the visit has been discussed but no date has been set.
On the military situation, Budanov acknowledged that Russia faces no shortage of troops and can mobilize a potential reserve of 23.5 million. "That's an estimate from when I was head of military intelligence, based on a report prepared toward the end of 2025 on Russia's mobilization capacity for Putin," he said. "I read it in the original. No, there are no problems - and there won't be any in the coming years."
Still, Russia's manpower advantage hasn't translated into real battlefield gains. Ukraine has offset the imbalance through innovation in drone warfare.
Asked what happens if the talks fail, Budanov was blunt: "There are only two options - war or peace. Not just continuing the war, but continuing negotiations. If they agree to that - because they might not."
Markets reacted to the optimism. Ukrainian dollar bonds rose the most among emerging markets on Friday, with the 2034 bond climbing nearly 4 cents to around 62 cents on the dollar - a one-month high. The euro also jumped to a daily high of $1.1711.