Browder Warns Against Concessions to Putin
(UKRAINE) – Ukraine’s fate in the coming months will be shaped by critical decisions on military, economic, and diplomatic fronts, according to investor and campaigner Sir Bill Browder. In a recent interview with Times Radio, Browder addressed proposals for Donbas to become a free economic zone, the ongoing seizure of Russian assets by the EU, and Ukraine’s recent strikes on Russian energy infrastructure.
Browder emphasised that the Russian dictator Vladimir has consistently demonstrated a desire to continue the war. “He has made it very clear at every step of this war that he wants to win,” he said. Browder dismissed US suggestions that Ukraine concede parts of its territory, noting that even Trump’s proposed peace terms could prove catastrophic for Kyiv. “Ukraine is absolutely right to be concerned,” he said, citing the Budapest Memorandum, which failed to protect Ukraine when Russia invaded despite security guarantees from the US, UK, and Russia in 1994.
Ukrainian President Volodymyr Zelenskyy has flatly rejected the idea of a free economic zone in Donbas, warning that such concessions could invite further Russian aggression. Browder argued that only overwhelming military consequences could prevent future attacks. “None of that seems to be on the table. I see quasi security guarantees, but nothing real,” he said.
The debate over national elections in Ukraine also continues. Zelenskyy proposed a national referendum on contested territory, but legal restrictions and ongoing hostilities make immediate elections unfeasible. Browder stressed that the primary goal for Ukraine is maintaining sovereignty and defending its population, not satisfying external pressure for concessions.
Meanwhile, Europe is considering the use of frozen Russian central bank reserves to support Ukraine, with around €140 billion ($150 billion) potentially becoming available. Browder argued this funding is critical to maintain Ukrainian military operations and prevent forced concessions demanded by Trump’s administration.
On the battlefield, Ukrainian forces have increased their capability to strike deep inside Russian-controlled areas. Recent drone attacks have halted production at a Lukoil-operated Caspian Sea platform and disrupted key Russian logistics and infrastructure, including Moscow airports and shadow fleet operations. Browder compared Ukraine’s strategy to Israel’s targeted counterterrorism operations, stressing restraint while effectively targeting Russian economic assets.
Browder criticised Trump for focusing on rapid peace deals and alleged Russian-aligned business interests rather than supporting Ukraine’s defence. “This peace plan won’t be accepted by Putin anyway,” he said, predicting that Ukraine will remain in conflict with Russia for the foreseeable future. He called for EU support in seizing Russian frozen assets, describing any legal challenge by Russia as “fraught and unlikely to succeed.”
Ukraine, Browder concluded, is positioning itself to negotiate from strength rather than capitulation. “The money should be seized. Ukraine will be able to defend themselves and carry on,” he said, underlining the importance of maintaining military and economic leverage in the fight against the Russian dictator.
