It was quite a contrast. On Thursday, a US Pentagon delegation was in Kyiv. They were talking to President Zelensky about a draft plan to end the war in Ukraine. The same day, on Russian state TV, President Putin was in military fatigues, addressing his army chiefs about continuing the fight. We have our tasks, our goals, declared the Kremlin leader. The chief one is the unconditional achievement of the aims of the special military operation.

The Izvestia newspaper characterized President Putin's visit to a command post as a signal to America that he's ready to negotiate regarding Ukraine—but only on Russia's own terms.

On Friday night, Putin revealed that he had reviewed the US settlement plan for Ukraine. Speaking to the Russian security council, he labeled the American proposals as a modernized version of a deal discussed during Trump’s presidency. He indicated the proposals might serve as a foundation for a peace settlement.

The leaked 28-point proposal, which surfaced following discussions involving Putin's envoy Kirill Dmitriev and Trump’s special envoy Steve Witkoff, prescribes that Ukraine cede remaining parts of the Donbass to Russia, reduce its military size, and refrain from NATO membership.

Putin's spokesman asserted that Russia's military effectiveness should persuade Zelensky to seek a deal promptly. However, the implications of the peace proposal might not be entirely welcomed domestically. There are concerns regarding potential security guarantees offered to Ukraine, akin to NATO's Article 5, which might obligate Western allies to respond collectively to any future Russian aggression against Ukraine.

Despite the proposals, the overall sentiment within Russia emphasizes that any peace deal is contingent upon Moscow's terms. Critiques have surfaced indicating that regardless of diplomatic negotiations, Russia perceives itself as the prevailing power.

Meanwhile, the internal situation in Russia reveals economic strains; the country's military successes have come at a high cost—casualties are heavy, the economy is declining, and budget deficits expand. The potential impact of these pressures on Putin's calculus remains uncertain.

However, the path toward a negotiated peace is fraught with complexity, and as the realities of war persist, both sides appear to be bracing for further escalation.