Ukraine is currently navigating a complex political landscape marked by internal urgency and external pressures. Preparations are underway for upcoming presidential elections and a referendum concerning a peace agreement with Russia. Influential figures, including Finnish President Alexander Stubb, have indicated that President Zelensky has expressed intentions to move forward. However, with deadlines set by international powers, notably Donald Trump, potential concessions regarding the Donbass region are looming over the discussions.

Despite these preparations, President Zelensky has emphasized the importance of security guarantees before any transition to elections can occur. He categorically denies reports suggesting a specific timeline, asserting instead that elections can only be held when appropriate security provisions are in place. The Financial Times has pointed to February 24, the fourth anniversary of Russia's invasion, as a potential date for an official announcement regarding these elections, yet the details remain subjected to significant geopolitical negotiations.

The proposed referendum is described as not altering current borders but instead focusing on a framework that would involve a ceasefire, multilateral guarantees, and steps towards peace. This indicates a carefully monitored approach as Ukraine seeks to balance the urgency of democratic processes with the critical need for national security. The resolution of these issues will significantly impact not only Ukraine's internal stability but also its relationships with key international players engaged in peace negotiations.