Trump’s Ukraine-Russia Peace Talks: “Dividing Up Certain Assets”

Introduction

President Donald Trump announced plans to speak with Russian President Vladimir Putin on Tuesday, March 18, 2025, to discuss potential pathways to end the Ukraine-Russia conflict. During his remarks to reporters, Trump specifically mentioned negotiations involving “dividing up certain assets” between the warring nations.

FAF examines the specific assets discussed in these peace talks based on Trump’s statements and contextual information.

Land and Territorial Concessions

The primary asset under discussion in the peace negotiations appears to be Ukrainian territory under Russian control.

Trump explicitly identified land as a key component of the ongoing talks between Russia and Ukraine.

“We will be talking about land. We will be talking about power plants,” Trump told reporters aboard Air Force One while returning from Florida to Washington.

In further comments, he acknowledged the significant territorial changes since the war began: “I think we’ll be talking about land. It’s a lot different than it was before the war, as you know.”

The territorial discussions take place against the backdrop of Russia’s continued occupation of substantial portions of Ukrainian territory.

Since Russia’s full-scale invasion in February 2022, Ukraine has lost approximately 11% of its territory, according to CNN analysis.

Any peace agreement would likely need to address the status of these occupied regions, potentially formalizing some Russian territorial gains.

Trump’s special envoy, Steve Witkoff, who recently met with Putin in Moscow, has been careful not to directly address whether the negotiations would involve recognition of Russian-occupied Ukrainian territory as officially Russian.

However, Trump’s reference to “dividing up certain assets” strongly suggests that territorial concessions are on the table.

Current Territorial Situation

The territorial discussions are particularly sensitive, given recent battlefield developments. Russia has been making advances in the Kursk region, where Ukrainian forces had previously established a foothold.

Russian troops recently recaptured the Sudzha logistics hub in Kursk, further strengthening Moscow’s position in ceasefire negotiations.

Energy Infrastructure and Power Plants

Trump explicitly identified energy infrastructure, specifically power plants, as the second significant asset.

“We will be talking about power plants. That’s a big thing,” Trump said in his comments to the press. Including power plants in negotiations highlights the strategic importance of energy infrastructure in conflict and post-conflict settlement.

Ukraine’s energy grid has been repeatedly targeted throughout the war, with Russian strikes damaging critical power generation and distribution facilities.

Control of power plants would provide leverage over electricity supply to civilian populations and industrial centers, making them valuable strategic assets in any territorial settlement.

Division of Assets in Context

Trump’s remarks suggest that discussions about asset division have progressed significantly between the parties: “I think we have a lot of it already discussed very much by both sides, Ukraine and Russia. We’re already talking about that, dividing up certain assets”.

The negotiations are taking place as Trump attempts to secure Putin’s support for a 30-day ceasefire proposal that Ukraine accepted last week. Since returning to office, the ceasefire discussions represent Trump’s most significant intervention in the conflict.

Russian Conditions

For its part, Russia has set specific conditions for any peace agreement. Russian Deputy Foreign Minister Alexander Grushko stated that Moscow would require “ironclad security guarantees” to consent to a ceasefire, including Ukraine being barred from joining NATO. This suggests that Russian demands extend beyond physical assets to include geopolitical concessions.

Concerns from Ukraine and Allies

Ukrainian President Volodymyr Zelensky has expressed skepticism about Russia’s intentions, accusing Moscow of wanting to improve its battlefield position before agreeing to any ceasefire. He has previously taken a firm stance against territorial concessions.

European allies have also voiced concerns about potentially rewarding Putin for aggressive actions through territorial concessions. British Prime Minister Keir Starmer characterized Russia’s response to ceasefire proposals as “not good enough” and accused Putin of “dragging his feet.”

Conclusion

Based on Trump’s explicit statements, the assets being discussed in the Ukraine-Russia peace talks primarily include:

Land and territorial control, with potential formalization of Russian gains

Energy infrastructure, specifically power plants

These discussions occur within a complex diplomatic environment where Trump attempts to secure a ceasefire while balancing Ukrainian sovereignty concerns against Russian territorial demands.

The upcoming call between Trump and Putin may clarify what specific arrangements regarding these assets might form part of any potential peace agreement or ceasefire.

The reference to “dividing up certain assets” represents a significant shift in U.S. diplomatic language regarding the conflict. It potentially signals a willingness to accept some Russian territorial gains as part of a peace settlement, a position that has raised concerns among Ukraine and its European allies.