Zelenskiy marks fourth anniversary, vows not to betray sacrifices

President Volodymyr Zelenskiy stood in Kyiv on Feb. 24 to mark the fourth anniversary of Russia’s full-scale invasion, telling Ukrainians and visiting European dignitaries that "Putin has not achieved his goals. He has not broken the Ukrainian people. He has not won this war." The address framed the anniversary as both a commemoration of loss and a reassertion of national resolve.

Zelenskiy opened by recalling what he called a "three-day push to take Kyiv," saying the attempt and its failure reveal the depth of Ukrainian resistance. He listed wartime chapters that shaped public memory — Bucha, Irpin, Mariupol, the destruction of the Kakhovka Dam and repeated strikes on residential buildings and maternity wards — and warned that "Ukrainians will not forget." The president said the nation "has preserved Ukraine, and we will do everything to achieve peace. And to ensure justice."

The speech was delivered in Kyiv from a bunker described by officials as not previously publicized, and Zelenskiy was to welcome European Commission President Ursula von der Leyen and other European leaders later in the day. The presence of senior EU figures underscored continuing Western diplomatic engagement even as negotiations on a ceasefire and settlement remain stalled.

Zelenskiy recounted how civic mobilization and military adaptation altered the course of the conflict: recruitment centers filled, volunteers organized ad hoc defenses, and communities sustained essential services under siege. He cited battlefield milestones — the defense of Kyiv in 2022, the liberation of Kherson, operations in the Kharkiv region and the sinking of the Russian cruiser Moskva — as evidence of Ukraine’s evolving combat capacity. He also said Ukraine had shifted from reliance on foreign body armor and anti-tank weapons toward domestic production, adding an assertion that the country is "producing more than three million FPV drones annually." That production figure was presented in his account and could not be independently verified.

The address came days after U.S.-mediated talks in Geneva yielded little concrete progress, a development Zelenskiy said reflected Russian intransigence and that American negotiators had come to see Moscow as the main obstacle to meaningful results. He reiterated that Kyiv will not cede territory demanded by Moscow, a position that signals low immediate prospects for a negotiated end to fighting and raises the probability of prolonged international military and financial support for Ukraine.

Security incidents on the same day highlighted the fragile domestic situation: explosions in Lviv killed a police officer, and Ukrainian authorities said responsibility remained unclear while continuing to warn about alleged recruitment by Russian intelligence of individuals to plant makeshift bombs in public places.

For markets and policymakers, Zelenskiy’s speech signals continuity rather than compromise. A sustained conflict would maintain upward pressure on European defense budgets, lock in demand for weapons and maintenance services, and prolong reconstruction needs that will require multiyear fiscal support. The president closed with a personal note of uplift, saying, "And I really want to come here with the President of the United States one day," offering a symbolic appeal to Western leaders to remain engaged as Kyiv sets its terms for peace and justice.