00:00Do you think the ceding territory is an inevitable outcome for Ukraine when it comes to somehow mapping out a path to peace?
00:10I think Ukraine in the short term is going to have to cede territory, even if it never gives up sovereignty, if you like, in its constitution or indeed in its public attitudes.
00:21It's always going to have to commit to getting those territories back.
00:25Now, the key thing is with what it cedes is how much it's going to have to cede, whether complete oblasts or provinces have to go to Russia or indeed we're going to settle along the current front lines.
00:40Back in 1939-40, when the Soviet Union had a war with Finland, Finland gave up two sections of land that were critical, so the Soviets thought to themselves.
00:52But they also, the Soviets also imposed neutrality on the Finns as well.
00:59So I think it's not just going to be a question of territory.
01:02It's going to be a question of the extent to which President Putin can demilitarize Ukraine and also prevent it from joining NATO or indeed the European Union.
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