Kremlin says territory will be discussed at Geneva trilateral talks

The Kremlin said on Feb. 16 that the “main issues” in the conflict over Ukraine, explicitly including questions of territory, will be discussed at trilateral talks in Geneva next week between Russia, Ukraine and the United States. Kremlin spokesman Dmitry Peskov told reporters the aim is to cover a broader range of issues and that territory is central to Moscow’s demands. “This time, the idea is to discuss a broader range of issues, including, in fact, the main ones. The main issues concern both the territories and everything else related to the demands we have put forward,” he said.

The talks are scheduled to run for two days in Geneva on Feb. 17 and 18, and the Kremlin confirmed Russia will be represented by a delegation led by Vladimir Medinsky, an aide to President Vladimir Putin. Peskov said Igor Kostyukov, identified by Russian sources as the military intelligence chief, will also take part, while Kirill Dmitriev, described as Putin’s special envoy, will join a separate working group focused on economic issues. Peskov added that Medinsky “remains the head of the Russian delegation” and did not participate in earlier Abu Dhabi rounds because those sessions were devoted to security topics, suggesting Geneva will widen the diplomatic agenda.

The Kremlin framing puts territory squarely on the negotiating table, a move likely to test Kyiv’s willingness to discuss land-for-peace propositions amid intense external pressure. Officials in Kyiv have not disclosed their delegation or lead negotiators in Geneva. President Donald Trump has publicly said he is keen to broker an end to a conflict he has called a senseless “bloodbath,” signaling Washington’s active political interest even as the U.S. delegation’s lead negotiators have not been named.

Beyond the headline issue of territory, negotiators will confront other unresolved and high-risk items. Moscow has demanded Kyiv cede control of the entirety of the Donbas area, a demand that Kyiv rejects and that would redraw postwar borders if accepted. Internationally sensitive questions remain over control of the Zaporizhzhia nuclear power plant and the potential role of any Western troops in a post-war Ukraine, both issues that could draw global institutions into any implementation phase.

Markets and policymakers will watch the Geneva talks closely. Even if no agreements are struck, confirmation that territory is being negotiated elevates political risk premiums for Ukrainian assets and could prompt renewed volatility in energy and agricultural commodity markets that have been sensitive to shifts in eastern Europe. The creation of an economic working group led or attended by a Kremlin economic envoy signals an eye toward reconstruction and sanctions-era financial questions, which could have long-term implications for investment flows, credit access and the structure of any reconstruction financing.

Diplomatically, the inclusion of a senior intelligence figure and an economic envoy alongside Medinsky suggests Russia intends to press linked security and economic demands in parallel. That configuration increases the complexity of talks and narrows the range of immediate confidence-building measures that might bridge differences.

Key unanswered questions remain: who will lead the Ukrainian and U.S. delegations, whether international agencies such as the IAEA will be formally involved on nuclear safety, and whether Geneva sessions will produce public readouts or be conducted behind closed doors. For Kyiv and its Western partners, the prospect that territorial issues will sit at the center of negotiations changes the political calculus and raises stakes for any short-term diplomatic breakthrough.