Russia-Ukraine peace plan: Watch details of pact under discussion; NATO, seized territories main topics

Even as the Russia-Ukraine war entered its 22nd day on March 17, hope emerged that the fighting might end sooner rather than later. A news report claimed that Moscow and Kyiv have made "significant progress" on a peace agreement.

The Financial Times reported that the two sides are discussing a 15-point peace plan which would include a ceasefire, and withdrawal of Russian forces. These would be contingent on Ukraine declaring "neutrality", and accepting limits on its armed forces, according to sources quoted in the FT report.

Neutrality is believed to mean that Ukraine would no longer seek membership of the NATO alliance. NATO, or the North Atlantic Treaty Organisation is a multilateral military grouping which is antithetical to Russia. Ukraine would not be able to host foreign military bases on its territory, which was one of Russia's big concerns and is believed to have inspired the invasion.

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However, the status of territories like Crimea, and Luhansk and Donetsk could prove to be a sticking point. While Russia took control of Crimea in 2014, separatist forces backed by Moscow control Luhansk and Donetsk. The two areas were recognised as independent territories by Vladimir Putin before he launched his invasion of Ukraine in February 2022.