How Will Ukraine Peace Talks Reshape the Global Balance?

The dynamics of the war in Ukraine, after three years of stalemate, are showing signs of shifting. The Trump administration is pursuing direct negotiations with Russia. European leaders are meeting amongst themselves and clashing over whether to send in troops. Ukraine says it will not recognize any negotiations that do not include Kyiv.

All this comes after the conflict reshaped assumptions over global power and triggered the largest surge in defense spending since the Cold War. Global military budgets soared to $2.46 trillion last year alone, a 7.4% increase, as nations rushed to fortify their defenses. The stakes for global security have never been higher.

The U.S. Chamber's Global Intelligence Desk is pleased to welcome Dr. Alina Polyakova, President and CEO of the Center for European Policy Analysis (CEPA), one of the leading voices in transatlantic security, as we unpack the key takeaways from the Munich Security Conference, the latest shifts in Russia-Ukraine negotiations, and what these developments mean for global power dynamics and the future of international security.