Ukrainian President Volodymyr Zelensky arrived in Davos, Switzerland, on Thursday, ahead of anticipated talks with US President Donald Trump at the World Economic Forum. This high-level meeting comes amidst renewed optimism from Trump's envoy, Steve Witkoff, regarding the finalization of a peace deal to end the protracted war in Ukraine. Witkoff, who was preparing for talks in Moscow with Russia's Vladimir Putin, expressed confidence, stating, "I think we've got it down to one issue and we have discussed iterations of that issue, and that means it's solvable."

While Witkoff refrained from specifying the exact "single issue," recent negotiations have reportedly centered on the contentious future status of Ukraine's industrial heartland, Donbas. A proposal gaining traction involves establishing a demilitarized and free economic zone in the region, contingent on security guarantees for Kyiv. Witkoff emphasized that a resolution is achievable "if both sides want to solve this." President Trump, preceding Witkoff's visit to Moscow with his son-in-law Jared Kushner, voiced his belief that both Putin and Zelensky had reached a point where they could forge an agreement, cautioning, "If they don't, they're stupid." Last week, Trump had suggested that Putin appeared "ready to make a deal," whereas Zelensky seemed "less ready."

Zelensky's journey to Davos involved traveling through the night, a trip he had initially canceled to address the severe aftermath of recent Russian strikes on Kyiv's power infrastructure. These attacks have plunged significant portions of the capital into darkness, depriving residents of heating, water, and power during the harshest winter in almost four years of Russia's full-scale invasion, leaving thousands of apartment blocks without warmth. Concerns have also been raised in Kyiv that a diplomatic spat between Trump and his European NATO allies over Greenland might have diverted the US President's attention from the conflict in Ukraine.

Specific "thorny" issues continue to threaten to derail any potential Russia-Ukraine peace deal. Zelensky, following talks with Trump in Miami last month, indicated that a 20-point US plan to end the war was 90% complete, though he highlighted a divergence in Ukraine's and Russia's positions on Donbas. He has specifically offered to withdraw Ukrainian troops by up to 40km (25 miles) from the 25% of the Donetsk region still under Kyiv's control to facilitate the creation of an economic zone, provided Russia reciprocates. However, Russian forces have made slow but steady advances in the east over the past year, and Putin is known to aspire to control the entire region. Another significant sticking point, as identified by Zelensky last month, is the future administration of Ukraine's vast Zaporizhzhia nuclear plant, which was seized by Russia in March 2022.

Kremlin spokesman Dmitry Peskov, speaking on Thursday, confirmed that discussions with the American envoys would persist "on the Ukrainian issue and other related topics," but he notably declined to echo Witkoff's optimism regarding a deal. Putin has also yet to decide on joining Trump's proposed "Board of Peace on Gaza." Despite these complexities, the Ukrainian president had hoped to sign two crucial documents with Trump at Davos, encompassing future security guarantees and economic prosperity, though he admitted there was "one mile left to finalise these documents." It remains uncertain whether any formal signings will occur during their meeting at the World Economic Forum. Nevertheless, Rustem Umerov, the head of Ukraine's national security and defense council, confirmed on Wednesday night that his team in Davos had already engaged with their US counterparts to discuss economic development, post-war recovery, and security guarantees.