Russia May Seek Sanctions Relief in Exchange for Ceasefire

President Volodymyr Zelensky said Russia may attempt to secure the lifting of international sanctions on certain companies in exchange for a ceasefire in Ukraine, warning that such proposals carry significant risks for Kyiv.

Speaking in an interview with Bloomberg on Thursday, Zelensky said Moscow is raising the issue of easing sanctions, including current restrictions on Russia’s access to the SWIFT banking system, as part of discussions around a possible truce, Ukrinform reported.

“I think that Russia can raise the issue of a ceasefire in exchange for lifting sanctions on certain enterprises,” Zelensky said. “I know that they are raising the issue of lifting SWIFT sanctions so that their banks can operate. For Ukraine, this is all a big risk.”

The remarks come amid Kremlin claims that Russian President Vladimir Putin discussed potential ceasefire arrangements with US President Donald Trump during a 90‑minute phone call on Wednesday, with Moscow signaling it may seek territorial concessions through negotiations rather than continued fighting.

Zelensky has urged the US and European countries to maintain sanctions pressure on Russia and not to give in to attempts by Moscow to weaken existing restrictions.

The president also confirmed that invitations remain open for US envoys Steve Witkoff and Jared Kushner to visit Kyiv, adding that Ukrainian officials remain in regular contact with their US counterparts.

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Zelensky said Ukraine does not want Russia’s proposed ceasefire around May 9, when Moscow marks Victory Day, to become a tactical maneuver designed to shield Russia’s military parade instead of genuinely reducing hostilities on the frontline.

He noted that many countries, including Ukraine, commemorate the end of World War II on May 8, and said it remains unclear what terms Putin has in mind regarding a truce.

“They want the parade to go smoothly for a few hours and then resume the attacks,” Zelensky said. “We do not want any ceasefire to become a tactical deception on the part of the Russian Federation.”

At the same time, Zelensky said Ukraine supports genuine ceasefire initiatives that help protect civilians and facilitate the exchange of prisoners.

“We always respond positively to real ceasefire proposals with Russia, if they exist,” he said.

Zelensky also warned that a shift in US strategic focus toward the Middle East could weaken pressure on Russia and risk prolonging the war.