Ukrainian President Volodymyr Zelenskyy has expressed Ukraine’s willingness to engage in de-escalation measures, contingent upon similar actions by Russia. This statement comes amidst ongoing tensions in Eastern Europe and may influence the outlook for a potential ceasefire agreement between the two nations. Market odds for a ceasefire by December 31, 2026 have risen to 23.5%, reflecting increased confidence in the possibility of an agreement. The next diplomatic steps could include direct negotiations between Zelenskyy and Russian President Vladimir Putin, or statements from influential international actors such as the United States or the OSCE.
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