Ukrainian President Volodymyr Zelenskyy is reportedly preparing to announce a presidential election alongside a referendum on a possible peace agreement with Russia. This announcement is expected on February 24, marking the fourth anniversary of Russia’s comprehensive invasion.

According to a report from the Financial Times, which cites Ukrainian and European officials involved in the planning, both the presidential election—where Zelenskyy is anticipated to seek re-election—and a nationwide referendum could take place by May 15.

The report highlights that Kyiv might jeopardize proposed U.S. security guarantees if these elections are not conducted by the specified date.

The Financial Times also pointed out that while past deadlines set by the U.S. have passed without consequence, American officials are currently exerting more substantial pressure on Ukraine, particularly with the November midterm elections approaching.

In a related image, a note is seen marking a ballot box for voters with high temperatures at a polling station during the 2020 Ukrainian local elections in Rubizhne, Luhansk Region, eastern Ukraine, photographed on October 25, 2020, during the coronavirus pandemic. (Kovalyov Oleksiy/Ukrinform/Future Publishing via Getty Images)

The timeline for these events is further complicated by the significant differences between Moscow and Kyiv on critical territorial issues, including the status of the Donbas region and the Zaporizhzhia nuclear power plant. Additionally, legislative amendments by the Ukrainian parliament would be necessary, as martial law currently prohibits national elections during wartime.

Zelenskyy previously stressed that the timing and format of any elections are matters solely for Ukraine and its citizens, rejecting any suggestion that the Kremlin could dictate the process. 

In several lengthy posts on X in December, he argued that two key factors would determine whether voting is possible: security and legislation.

A woman casts her ballot at a mobile polling station during early voting in Russia’s presidential election in Donetsk, Russian-occupied Ukraine, on March 14, 2024. (Stringer/AFP via Getty Images)

Zelenskyy said voting can only take place on Ukrainian-controlled territory and must ensure the participation of soldiers defending the country. Elections cannot be held in Russian-occupied areas, he explained, because of concerns over how they would be conducted.

He also suggested that a ceasefire, at least for the duration of an election or referendum, may be necessary to guarantee secure conditions, including protected airspace and the presence of international observers.

The reported deadline from the Trump administration comes after The Associated Press reported that Washington is aiming for the war to end by June.

Ukrainian servicemen vote at a polling station during Ukraine’s parliamentary elections in Velyki Mosty, Lviv Oblast, on July 21, 2019. (Mykola Tys/Global Images Ukraine via Getty Images)

Trilateral talks between the United States, Russia and Ukraine were held in Abu Dhabi in early February, where the sides met twice but emerged with only a limited breakthrough — agreeing to a 314-person prisoner exchange, the first such swap in five months.

U.S. special envoy Steve Witkoff said Washington and Moscow agreed to reestablish a military-to-military dialogue, calling the channel “crucial to achieving and maintaining peace.”

He said trilateral discussions would continue in the coming weeks after the delegations report back to their respective capitals.