The US special envoy for Ukraine and Russia said on Saturday Moscow may have to make territorial concessions as part of a settlement to end the three-year-long war in Ukraine.
Speaking at a panel at the Munich Security Conference, Keith Kellogg said both Ukraine and Russia would need to compromise and suggested that a potential agreement could include territorial adjustments, military reductions, and commitments to refrain from future 'aggression.'
Kellogg emphasized that Russia’s economy, heavily reliant on oil and gas revenues, could be a key target for increased pressure.
He claimed 70% of Moscow’s war funding comes from energy exports. 'Most of that is going through the shadow fleet,' he said referring to mechanisms Russia use to evade sanctions against it.
Kellogg argued that enforcing stricter sanctions on these revenue streams could weaken Russia’s ability to sustain its war effort.
- Europe will not be part of negotiations
Earlier, Kellogg said Europe would not be directly involved in Ukraine peace talks, citing the failure of the Minsk II agreement in 2015, which included France and Germany.
While European interests would be considered, he said talks would primarily be between the US, Ukraine and Russia.
He announced a commitment to engage all parties within 180 days to advance peace efforts.
Trump called Russian President Vladimir Putin this week and declared an immediate start to peace talks.
European leaders have insisted to be part of any discussions to the end the conflict.
By Yasin Gungor
Anadolu Agency
energy@aa.com.tr