According to sources cited by the Financial Times, unnamed officials from Ukraine and Western countries indicate that President Zelensky is preparing to hold presidential elections in conjunction with a referendum on a potential peace agreement with Russia. The urgency of this plan is influenced by pressure from the administration of U.S. President Donald Trump, which has urged Ukraine to conduct both the elections and the referendum by May 15. Failing to do so could lead to Ukraine losing proposed U.S. security guarantees.

Zelensky's office and the U.S. embassy in Kyiv have not commented on this report, but it aligns with the recent U.S. diplomatic push that Zelensky highlighted last week. He mentioned a timeline where all documents aimed at concluding the ongoing war should be signed by the end of June. This timeline underscores an ongoing effort to seek a resolution as the conflict endures, emphasizing the need for political consent via elections and a referendum within the pressing timeframe.

Despite the plans, Zelensky has cautioned that holding elections or a referendum amid wartime conditions and martial law may be infeasible. His administration faces significant challenges in ensuring both the security and the democratic process during a period when the country is still engaged in a conflict that has greatly affected its stability and governance. This discussion of potential elections is also reflective of the broader geopolitical context, as Ukraine navigates its relationships with powerful allies and adversaries in the effort to find a resolution to the current situation.