KYIV — The latest draft of a peace plan agreed by U.S. and Ukrainian negotiators would see Kyiv withdrawing its troops from the eastern territories claimed by Moscow, according to Ukrainian President Volodymyr Zelenskyy.

Briefing reporters in Kyiv on Tuesday, Zelenskyy said the updated plan contemplated the designation of the eastern Donbas region — the majority of which is currently occupied by Moscow’s troops — as a demilitarized “free economic zone” in which neither Ukrainian nor Russian forces are present.

Zelenskyy stressed that Ukraine is against the withdrawal, which is one of Russia’s top demands. But, he added, “there are two options: either the war continues, or something will have to be decided regarding all potential economic zones.”

The Ukrainian leader said the latest version of the plan — an update of a Trump administration proposal that both Kyiv and the European Union had initially dismissed as a “non-starter” — maintains the proposed security guarantees from the U.S., NATO and European partners that are equivalent to those outlined in Article 5 of the transatlantic alliance’s treaty.

“If Russia invades Ukraine, in addition to a coordinated military response, all global sanctions against Russia will be restored,” he said, adding that the guarantees would also be considered invalid if Kyiv takes any unprovoked military action against Moscow. Zelenskyy noted that Washington had dropped text from a previous version of the plan that proposed the U.S. receive compensation for the security guarantees.

The plan additionally proposes Russia legally adopt a strategy of non-aggression towards Ukraine and Europe. The text also accepts Kyiv’s eventual accession to the European Union, acknowledges the country’s right to demand reparations from Russia, and endorses the creation of dedicated investment instruments to fund the country’s reconstruction.

The revised text also calls for the joint administration of the Zaporizhzhia nuclear power plant by Ukrainian, Russian and American authorities. Kyiv is loath to allow Moscow to manage the complex, which has been the site of fierce fighting, but is willing to partner with the Trump administration on running infrastructure Washington considers crucial for future minerals mining operations in the country.

Zelenskyy said the nearby city of Enerhodar, which is currently occupied by Russia, would be a candidate for demilitarization if the U.S. insists on designating economic zones within Ukraine. But, he added, for the move to be legal, a referendum would have to be held to endorse that decision.

The plan also calls on Ukraine and Russia to introduce programs in their educational curricula that promote tolerance of different cultures. Kyiv would additionally be expected to implement EU regulations to protect minority religions and languages.

While those measures are likely to clash with Ukraine’s ongoing efforts to “de-Russify” the country and forge a new sense of nationhood, Zelenskyy said that adopting the rules are part of joining the EU, and he challenged Moscow to enact similar regulations, “if they dare.”

The Trump administration’s original peace proposal was negotiated by U.S. envoy Steve Witkoff and Russian officials earlier this month. That 28-point document, which was widely interpreted to be molded to Moscow’s demands, has been substantially revised, and was the subject of trilateral talks held in Miami this past weekend.

Trump last week said a peace deal is “closer than ever.” Zelenskyy on Wednesday told journalists that if an agreement is reached, a full ceasefire would enter into force immediately. Final approval of the document would require its ratification by the Ukrainian parliament, as well as its approval in a nationwide referendum.