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US agrees maritime ceasefire deal with Ukraine and Russia

March 25, 2025
in Finance
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US agrees maritime ceasefire deal with Ukraine and Russia
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The US said it has reached agreements with Ukraine and Russia for a ceasefire in the Black Sea, following talks with both parties in Saudi Arabia.

The White House said on Tuesday that Kyiv and Moscow had agreed “to ensure safe navigation, eliminate the use of force, and prevent the use of commercial vessels for military purposes in the Black Sea”.

But questions remain about when the ceasefire will enter into force, and Ukrainian President Volodymyr Zelenskyy raised concerns over whether Russia would abide by it.

A senior Ukrainian official told the Financial Times that Kyiv would immediately halt “deep strikes” on Russian military targets under the deal, including Black Sea and energy targets.

But the Kremlin said the deal would come into effect only after sanctions imposed on Russian banks involved in the production and trade of agricultural goods were lifted.

The White House said it would increase Russia’s access to global agricultural and fertiliser markets, including support to lower maritime insurance costs and improve access to ports and payment systems.

The Russian request to lift sanctions on lenders would require EU approval.

Speaking to reporters in Kyiv, Zelenskyy said that the US side had told his delegation the ceasefires would be effective immediately.

“We first agreed that there could be calm at sea and free navigation,” Zelenskyy said. “The second point is to stop attacks on the energy system.”

He remained sceptical about Russia abiding by this ceasefire, but said that Kyiv would hold up its end of the deal.

“I have questions about how all of this will be implemented. “Of course, I’d like more details once our team returns [to Kyiv],” Zelenskyy said.

“There’s no faith in the Russians,” he added. “But I believe we will act constructively and do our part to implement the outcomes of the US-Ukraine meeting.”

The agreements come after two days of separate discussions with delegations from Kyiv and Moscow in Riyadh that the senior Ukrainian official described as “positive . . . but not a win”.

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