President Volodymyr Zelensky of Ukraine on Saturday flatly rejected the idea that Ukraine could cede land to Russia after President Trump suggested that a peace deal between Ukraine and Russia could include “some swapping of territories.”
https://x.com/JuliaDavisNews/status/1954221035621912780
https://www.nytimes.com/2025/08/09/world/europe/zelensky-trump-ukraine-russia.html

Trump did not clarify which territories could be swapped. Because Ukraine holds no Russian land, a swap would mean ceding Ukrainian-controlled territory in return for Ukrainian land currently occupied by Russia.

Ceding Luhansk and Donetsk would create a host of issues for Ukraine. It would mean giving up a region rich in cities and industrial centers that Russia could use as a launchpad to reignite the war.