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US, Ukraine discuss post-war reconstruction as fighting grinds on

Published by Global Banking & Finance Review

Posted on February 26, 2026

4 min read

· Last updated: April 2, 2026

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US, Ukraine discuss post-war reconstruction as fighting grinds on
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GENEVA, Feb 26 (Reuters) - Ukrainian negotiators were due to meet U.S. officials on Thursday in Geneva for talks on post-war reconstruction, including a "prosperity package" of funding to rebuild

US and Ukraine Explore Post-War Rebuilding Amid Ongoing Conflict

By Emma Farge and Pavel Polityuk

GENEVA/KYIV, Feb 26 (Reuters) - Ukrainian and U.S. officials met in Geneva on Thursday for talks on post-war reconstruction despite a deadlock in negotiations with Russia, and officials in Kyiv hoped to finalise key details of a settlement at a trilateral meeting early next month.

US-Ukraine Talks on Reconstruction

Top Ukrainian negotiator Rustem Umerov said the participants at the meeting, which followed a night of Russian attacks on infrastructure, spoke to Ukrainian President Volodymyr Zelenskiy after its conclusion.

Zelenskiy, who spoke to U.S. President Donald Trump on Wednesday, said trilateral talks would likely take place in Abu Dhabi in early March and would aim to prepare the way for a meeting of Ukraine and Russia's leaders.

Rebuilding Ukraine after the destruction wrought by Russian airstrikes and frontline combat has become a major element in broader U.S.-brokered talks on ending the war, which entered its fifth year this week and shows no signs of abating.

Challenges in Achieving Peace

The U.S. has been pressing Ukraine to secure peace in Europe's biggest conflict since World War Two, but Moscow and Kyiv remain far apart in their positions as Russian troops grind forward on the battlefield and strike Ukrainian cities.

TRILATERAL MEETING 'CAN RESOLVE A GREAT DEAL'

"Everything will have to be finalised. Everything that has been achieved for real security guarantees and preparing a meeting at the leaders' level," Zelenskiy said in his nightly video address, referring to the forthcoming trilateral meeting.

Key Figures in Negotiations

"That is the very format that can resolve a great deal. After all, leaders decide on key issues."

Taking part in the Geneva talks were U.S. special envoy Steve Witkoff and Trump's son-in-law Jared Kushner.

Russian President Vladimir Putin's special envoy, Kirill Dmitriev, also held talks with U.S. officials in Geneva on Thursday, Russia's state-run RIA news agency reported. Dmitriev declined to comment on the outcome of the meeting, RIA said.

Umerov said negotiators were working on economic and security issues to "make the next trilateral meeting involving the U.S. and Russia as substantive as possible."

Kyiv hopes to attract about $800 billion of public and private funds over the next 10 years to rebuild the country, where swathes of territory have been ravaged.

The latest assessment from the World Bank, released on Monday, showed rebuilding Ukraine's economy will cost an estimated $588 billion. The assessment is based on data from February 24, 2022, through December 31, 2025.

Ukrainian and Russian negotiators met last week in Geneva for their third U.S.-mediated meeting this year but failed to reach any breakthrough on key sticking points, including territory.

Impact of Recent Russian Strikes

NEW RUSSIAN STRIKES ON UKRAINE

Hours before talks began, Russia launched 420 drones and 39 missiles in another night of attacks on energy and other critical infrastructure, Zelenskiy said. Dozens of people were injured and damage was reported across eight regions, he added.

In recent months, Russia has focused its missile and drone strikes on Ukraine's energy sector, destroying power plants and substations and plunging entire cities and regions into prolonged blackouts.

In Kyiv, art teacher Larysa Fuzik, 62, said more international pressure was needed on Russia as the aggressor. 

"Even though four years of war have passed, every time the alarm sounds, I feel such fear, such coldness in my soul, such anxiety," Fuzik said. "I immediately get dressed and run to the metro."

Moscow has denied targeting civilians, although its attacks have killed thousands since it invaded in February 2022. Ukraine has also targeted Russia's energy system, particularly oil refineries, depots and transport terminals.

Foreign Minister Andrii Sybiha said the strikes showed "Putin bets on more terror, attacks, and aggression."

Russian forces are making incremental gains in parts of the 1,200-km (750-mile) front line, threatening key "fortress cities" in the eastern Donetsk region and advancing within 20 km of the southeastern regional capital of Zaporizhzhia.

Territorial Disputes and Control Issues

Moscow has said Kyiv must cede the final 20% of industrialised Donetsk that it controls. Ukraine says it will not give up territory that thousands have died to defend.  

Land issues and control over the Zaporizhzhia nuclear power station, seized by Russian forces in the first weeks of the war, remain among the thorniest issues to resolve. Zelenskiy has urged Kyiv's partners to increase pressure on Moscow.

The United States has slowed the sale of Russian oil company Lukoil's international assets to pressure Russia in the peace talks, sources familiar with the discussions told Reuters on Thursday.

(Writing by Daniel Flynn and Dan Peleschuk; Editing by Sharon Singleton, Ros Russell, Ron Popeski, Rod Nickel)

Key Takeaways

  • U.S. and Ukrainian negotiators meet in Geneva to advance post‑war reconstruction planning and a potential prosperity package.
  • The World Bank’s latest assessment estimates Ukraine’s 10‑year recovery needs at about $588B as of Dec. 31, 2025.
  • Kyiv aims to mobilize roughly $700–$800B in public and private capital over the next decade for rebuilding and growth.
  • Peace talks with Russia remain deadlocked, but reconstruction planning is proceeding in parallel.
  • Related Geneva diplomacy includes indirect U.S.–Iran talks, underscoring broader geopolitical stakes.

References

Frequently Asked Questions

What is the main topic?
U.S. and Ukrainian officials are holding talks in Geneva focused on post‑war reconstruction, including a proposed prosperity package to mobilize large‑scale public and private funding.
How much will Ukraine’s recovery cost?
A recent World Bank‑led assessment estimates about $588 billion in reconstruction and recovery needs over the next decade, covering damage through Dec. 31, 2025.
What funding targets are being discussed?
Kyiv seeks to attract roughly $700–$800 billion over 10 years through a mix of international aid, guarantees, and private investment to rebuild infrastructure and the economy.

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