According to Business Insider, both Russian President Vladimir Putin and Ukrainian President Volodymyr Zelensky expressed their willingness to participate in peace negotiations.
However, experts warn that any peace deal will be difficult to sustain without being accompanied by strong security guarantees for Ukraine.
“A lasting agreement must ensure that Ukraine’s position is strengthened and maintained,” said Paul Cormarie, a policy analyst at the RAND Corporation.
One of the key factors in the peace talks is whether Ukraine can join NATO. Russian President Vladimir Putin has always demanded Ukraine remain neutral as a condition for any peace deal, and it seems likely that Mr Trump will agree to that.
James David Vance, an American politician and Trump's running mate in the election, said the president-elect could agree to the request, and that Russia would receive "neutrality guarantees" from Ukraine as part of the deal.
Even if Mr Trump takes Ukraine’s NATO membership off the table, a range of other security deals could still be negotiated.
Estonian Foreign Minister Margus Tsahkna proposed deploying military forces from Ukraine's European allies to deter Russia, or strengthening Ukraine's defense capabilities through military aid programs.
Despite its significant military buildup since 2014, Ukraine still needs support from its Western allies. Cormarie said an agreement without a strong commitment could only prolong the pause in fighting while Russia regroups.