Ukraine estimates a 10-year rebuilding effort toward sustainable growth would cost some $800 billion, which it aims to mobilize through public capital, grants, loans, and private investment.

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Still, even as Kyiv has drawn up an outline with the Trump administration, thorny questions remain: how the guarantees would work, which countries would provide them, and how long they would last.

Through every twist and turn in peace negotiations, President Volodymyr Zelensky has made one thing clear: Ukraine will not lay down its arms without firm guarantees for its postwar security.