Bloomberg reports.According to the outlet, Ukraine and Europe are drafting a deal consisting of 12 points aimed at ending the war through a ceasefire along the existing line of contact.Sources say the implementation of the agreement would be overseen by a peace council led by U.S. President Donald Trump.In addition to ending hostilities, the plan envisions the return of all deported Ukrainian children and prisoner exchanges. Ukraine would also receive security guarantees, funding for postwar reconstruction, and a fast track to EU membership.The report notes that sanctions against Russia would be gradually lifted, but around $300 billion in frozen assets of Russia’s central bank would only be released if Moscow agrees to contribute financially to rebuilding Ukraine. In the event of renewed aggression, sanctions would be automatically reinstated.The next phase would involve talks between Moscow and Kyiv on the governance of occupied territories.Sources emphasized that the plan remains under development and its provisions could still change. The initiative also requires approval from the United States. European officials are expected to travel to Washington this week for further consultations.