Ukraine could be forced to give up territory captured by Russia under a ceasefire deal being drawn up by Moscow and Washington.
The White House and the Kremlin are reportedly aiming to reach a deal that would secure Vladimir Putin’s illegal land grab.
The details are expected to be agreed at a summit that Donald Trump and the Russian President are expected to attend next week.
To the dismay of UK defence sources, an effective fait accompli would then be presented to Volodymyr Zelensky.
The plans, reported by Bloomberg, echo joint US-Russian initiatives proposed earlier this year.
It would cement Russia’s control of regions captured and occupied by Putin’s armies since the invasion in 2022.
The timing of tonight’s FRI reports was significant as they coincided with a deadline set by the US for Russia to commit to peace.
Mr Trump had also announced he was prepared to cut the deadline from 50 days to ‘ten to 12’ due to the Kremlin’s reluctance to end the fighting.
While in recent days, Mr Zelensky’s posts on social media have suggested Ukraine was positive about the possible outcomes after three and a half years of gruelling conflict.
The US has also announced severe secondary tariffs on India, one of Russia’s main trading partners, in a bid to force the Kremlin to the negotiating table.
But hopes of a good deal for Ukraine appeared dashed last night
An unnamed UK source described the developments revealed by Bloomberg as ‘unsettling’ and more likely to extend the conflict than shorten it.
The source said: ‘Ukraine’s greatest fear since Trump’s return to the White House has been a cosy deal between Trump and Putin.
‘These concerns had been assuaged to some degree, prematurely, perhaps, based on what we’re reading.
‘Ukraine is unlikely to accept unfavourable terms and the UK would continue to support its ally, as would our international partners.’
According to the Bloomberg report the US is working to get ‘buy-in’ from Ukraine and its European allies.
Sources suggested their chances were slim if the deal includes Russian gaining outright control of provinces in eastern Ukraine.
Privately, the Ukrainians are understood to accept they will not get back the territory they have lost. But ceding any more territory is considered a red line.
Another suggestion is that Russia ceases its aerial bombardment of Ukrainian cities, which serve no conventional military purpose but cause civilian casualties.
Officially, neither the White House nor the Kremlin has commented publicly on the Bloomberg report.