The draft US-Russia peace plan has been widely leaked and we now know that it proposes to hand over those areas of Ukraine's industrial eastern Donbas region still under Ukrainian control to the de facto control of Vladimir Putin's Russia.
Latest versions of the text also call for Ukraine to cut the size of its armed forces to 600,000 people.
But what else is known about the text and who stands to benefit from it most?

What are the key points?

There are 28 key points and there are several on the face of it that could be acceptable to Ukraine. Others come across as vague and imprecise.
Ukraine's sovereignty would be confirmed and there would be a total and complete comprehensive non-aggression agreement between Russia, Ukraine, and Europe with robust security guarantees for Kyiv and a demand for snap elections in 100 days.
If Russia were to invade Ukraine, a robust coordinated military response is proposed, along with a restoration of sanctions and a scrapping of the deal.

Handover of Ukraine's territory and cut in armed forces

Among the most contentious proposals are Ukraine handing over its own unoccupied territory and cutting the size of its armed forces.
Ukrainian forces will withdraw from the part of Donetsk Oblast that they currently control, and this withdrawal zone will be considered a neutral demilitarized buffer zone, internationally recognized as territory belonging to the Russian Federation. Russian forces will not enter this demilitarised zone.
Ceding territory where at least a quarter of a million Ukrainians live will not be acceptable to most Ukrainians. Additionally, Ukraine's military could be limited to 600,000 personnel, a significant reduction from previous estimates.

Ukraine's future - with EU but not Nato

The draft proposes significant commitments on Ukraine's strategic future: Ukraine agrees to enshrine in its constitution that it will not join NATO and NATO agrees to include in its statutes a provision that Ukraine will not be admitted in the future.

Bringing Russia back from isolation

Several points suggest Russia to be reintegrated into the global economy which brings concerns given the circumstances surrounding the war.

What about Russia's frozen assets?

The draft includes proposals on how to manage $100 billion in frozen Russian assets, focusing on rebuilding Ukraine while ensuring profits favor the US and European nations.

What is not in the plan?

Commentators note that there are no restrictions on Ukraine's military advancement, which could ignite further tensions in the region.

Is this a definitive peace plan?

The US seems eager to finalize these proposals, however, various officials underscore that the draft is a work in progress rather than a conclusive agreement.

Is the draft a Putin wishlist?

Concerns arise regarding the draft favoring Russian narrative and territorial claims, leading commentators to question its equity and true intent.