We Will Swap One Territory for Another if Negotiations With Russia Take Place, Zelenskyy Says

Ukrainian President Volodymyr Zelenskyy has stated that if negotiations with Russian leader Vladimir Putin were to take place, he would propose exchanging Ukrainian-controlled areas of Russia’s Kursk region for occupied Ukrainian territories.

Zelenskyy made this remark in an interview with The Guardian on February 11.

“We will swap one territory for another,” he said, not specifying which Ukrainian territories would be included in such an exchange. “I don’t know, we will see. But all our territories are important, there is no priority,” he added.

Zelenskyy reiterated his willingness to negotiate but stressed that Ukraine must do so from a position of strength. He also noted that American companies investing in Ukraine’s reconstruction would receive favorable contracts and investment incentives.

“Those who are helping us to save Ukraine will [have the chance to] renovate it, with their businesses together with Ukrainian businesses. All these things we are ready to speak about in detail,” he said.

As of early February 2025, Ukrainian forces control approximately 450 square kilometers (about 174 square miles) of territory in Russia's Kursk region.

Since the operation began, Russian losses have totaled 39,900 soldiers, including approximately 16,000 killed and the rest wounded. By early November, the toll stood at 21,000. Additionally, more than 1,000 Russian troops have been taken captive.

Previously, US President Donald Trump claimed that Ukraine had agreed to grant Washington access to rare earth minerals worth $500 billion during an interview with Fox News on February 10. According to Trump, Ukraine possesses “extremely valuable land,” citing its deposits of oil and gas as key resources.