The Financial Times has reported that Ukraine is preparing to conduct presidential elections and a referendum on a potential peace treaty in the upcoming spring, coinciding with the fourth anniversary of Russia's invasion on February 24. President Volodymyr Zelenskyy is expected to announce these plans, despite the current state of emergency in Ukraine, which constitutionally prohibits holding elections during wartime. The pressure from the United States has been a significant factor in Ukraine's decision-making process, with Zelenskyy indicating a readiness to comply with U.S. demands regarding the electoral process.

In terms of legislative support, the Ukrainian parliament is anticipated to push forward with legal amendments in March-April that would enable elections to take place despite the ongoing conflict. U.S. demands not only include the organization of presidential elections but also a public referendum on the peace treaty, set to occur before mid-May. This timing is crucial because U.S. security guarantees may hinge on Ukraine's ability to demonstrate a commitment to democratic processes amid war.

However, sources cited by the Financial Times suggest that the successful execution of these elections and the referendum in such a challenging environment is unlikely, raising questions about the feasibility of balancing electoral integrity with security concerns. This situation reflects the broader complexities facing Ukraine as it navigates internal political dynamics and external pressures from allies, particularly the United States, who are instrumental in its ongoing resistance against Russian aggression.