As President Trump heads to Alaska, the most pressing question for many allies is: what is the price of peace? Speculation is rampant about the potential concessions he might offer Vladimir Putin to secure a deal to end the Ukraine war.
The most talked-about concession is territory. Trump’s “swapping” language suggests he is willing to entertain a deal where Russia keeps some of its gains, a major departure from the allied position. This would be the most significant and controversial concession.
Another potential concession could be on sanctions relief. Putin will almost certainly demand a clear path to lifting the punishing economic sanctions that have damaged Russia’s economy. Trump might offer a phased rollback of sanctions in exchange for a Russian withdrawal from certain areas.
Finally, there is the issue of NATO. While full NATO membership for Ukraine is likely off the table in any deal with Russia, Trump could offer a formal U.S. guarantee that it will not support Ukraine’s bid for a set period, effectively granting Russia the buffer zone it has long demanded. Any of these concessions would be a high price to pay, and the debate over their wisdom will dominate the aftermath of the summit.