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Putin Ally Predicts Russia Will Reject Trump’s Ukraine Truce Bid

Konstantin Malofeev (Bloomberg/Source: Bloomberg)

(Bloomberg) -- A conservative Russian tycoon and Kremlin confidant said he believes Moscow will turn down any Ukraine ceasefire offer brokered by incoming US President Donald Trump.

Konstantin Malofeev, a nationalist financier who is under Western sanctions, told Bloomberg News in an interview that Moscow may be dismissive of a deal as it seeks additional concessions including legally-binding neutral status for Kyiv. At the same time, he said there’s a “50-50” chance of an eventual agreement with Trump.

Malofeev’s words are the latest in mounting signs that Moscow has little willingness in making a deal easy or quick, a key promise of Trump, who has said he’s ready to end the conflict in 24 hours. Though not an official in President Vladimir Putin’s administration, Malofeev is a prominent hardline voice in Russia and has spent millions promoting pro-Kremlin causes, including through his Tsargrad TV station. 

“It’s important that the future US administration understands that a truce is not a gift that Russia is waiting for, that they will start talking to us and we will give in to everything,” Malofeev said in Dubai. “A truce right now is good for Ukraine and for the US, but for us it brings zero benefits - because we’re winning,” said the tycoon.

Russia’s advance continues to grind on in Ukraine’s east, seizing more Ukrainian territory in recent weeks than at any point this year. Currently Moscow’s focus is on expanding those gains, two people close to the Kremlin told Bloomberg News last month. It’s uncertain whether Washington’s latest moves to support Kyiv, such as allowing long-range strikes within Russia using western-made missiles, can turn the tide. 

Malofeev welcomed comments by Ukrainian President Volodymyr Zelenskiy on Friday in which he suggested he’s ready to accept a ceasefire with Russia which left parts of Ukraine occupied in return for NATO security guarantees for areas Kyiv controls. Malofeev described the comments as a “turning point,” showing that Zelenskiy is open to ending the war without regaining all territory.

The Ukrainian leader later sought to walk back the statements, saying there were no such proposals. However, even that plan to end the war won’t be enough for Moscow. Malofeev said Russia won’t stop hostilities until Ukraine changes its constitution to enshrine its neutral status and rule out membership of NATO — as well as agree to strict limits on the size of its military and a halt to weapons supplies from the US and its allies.

His predictions echo those of senior Russian officials who in recent days said that an end to the war in Ukraine remains a distant prospect.

Russia’s Foreign Minister Sergei Lavrov repeated demands for Ukraine to disarm, declare its neutrality and recognize new “political-territorial realities” in an interview published Wednesday in the government newspaper Rossiyskaya Gazeta.

Meanwhile, Putin is continuing to ratchet up his rhetoric. He warned on Thursday that his forces could strike “decision-making centers” in the Ukrainian capital of Kyiv with new ballistic missiles as retaliation for attacks on Russia using Western missiles.

Assuming that the Kremlin’s demands would change once the new US administration takes office would be a mistake, said Malofeev, and one that could “lead to escalation and a conflict with the Trump administration.”

--With assistance from Mark Sweetman.

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