Persistent territorial disputes and security guarantee disagreements continue to block any rapid comprehensive peace agreement between Ukraine and Russia. Recent US-mediated trilateral contacts, including planned technical-level meetings in Abu Dhabi after November 10, have produced only limited localized ceasefires for humanitarian aid, while Russia maintains demands for full control of annexed regions and rejects Ukrainian NATO aspirations. Ongoing Russian strikes on Ukrainian infrastructure and incremental battlefield advances underscore the absence of conditions for swift resolution. Traders assess these structural barriers and the extended timeline required for any deal as making a signed agreement before the end of 2026 highly improbable.