Read: EU's Counter-Proposal to Trump Peace Plan

Below is the text of a European counter-proposal to the United States' draft 28-point Ukraine peace plan, seen by Reuters on Sunday.

The counter-proposal, drafted by Europe's E3 powers of Britain, France and Germany, takes the U.S. plan as its basis but then goes through it point by point with suggested changes and deletions.

The text is as follows:

1. Ukraine's sovereignty to be reconfirmed.

2. There will be a total and complete non-aggression agreement reached between Russia and Ukraine and NATO. All ambiguities from the last 30 years will be resolved.

(Point 3 of U.S. plan is deleted. A draft of that plan seen by Reuters said: "There will be the expectation that Russia will not invade its neighbours and NATO will not expand further.")

4. After a peace agreement is signed, a dialogue between Russia and NATO will convene to address all security concerns and create a de-escalatory environment to ensure global security and increase the opportunity for connectivity and future economic opportunity.

5. Ukraine will receive robust Security Guarantees

6. Size of Ukraine military to be capped at 800,000 in peacetime.

7. Ukraine joining NATO depends on consensus of NATO members, which does not exist.

8. NATO agrees not to permanently station troops under its command in Ukraine in peacetime.

9. NATO fighter jets will be stationed in Poland

10. US guarantee that mirrors Article 5
a. US to receive compensation for the guarantee
b. If Ukraine invades Russia, it forfeits the guarantee
c. If Russia invades Ukraine, in addition to a robust coordinated military response, all global sanctions will be restored and any kind of recognition for the new territory and all other benefits from this agreement will be withdrawn.

11. Ukraine is eligible for EU membership and will get short-term preferred market access to Europe while this is being evaluated

12. Robust Global Redevelopment Package for Ukraine including but not limited to:
a. Creation of Ukraine Development fund to invest in high growth industries including technology, data centres and Al efforts
b. The United States will partner with Ukraine to jointly restore, grow, modernize and operate Ukraine's gas infrastructure, which includes its pipeline and storage facilities
c. A joint effort to redevelop areas impacted by the war to restore, redevelop and modernize cities and residential areas
d. Infrastructure development
e. Mineral and natural resource extraction
f. A special financing package will be developed by the World Bank to provide financing to accelerate these efforts.

13. Russia to be progressively re-integrated into the global economy
a. Sanction relief will be discussed and agreed upon in phases and on a case-by-case basis.
b. The United States will enter into a long-term Economic Cooperation Agreement to pursue mutual development in the areas of energy, natural resources, infrastructure, AI, datacenters, rare earths, joint projects in the Arctic, as well as various other mutually beneficial corporate opportunities.
c. Russia to be invited back into the G8

14. Ukraine will be fully reconstructed and compensated financially, including through Russian sovereign assets that will remain frozen until Russia compensates damage to Ukraine.

15. A joint Security taskforce will be established with the participation of US, Ukraine, Russia and the Europeans to promote and enforce all of the provisions of this agreement

16. Russia will legislatively enshrine a non-aggression policy towards Europe and Ukraine

17. The United States and Russia agree to extend nuclear non-proliferation and control treaties, including Fair Start

18. Ukraine agrees to remain a non-nuclear state under the NPT

19. The Zaporizhzhia nuclear power plant will be restarted under supervision of the IAEA, and the produced power shall be shared equitably in a 50-50 split between Russia and Ukraine.

20. Ukraine will adopt EU rules on religious tolerance and the protection of linguistic minorities.

21. Territories
Ukraine commits not to recover its occupied sovereign territory through military means. Negotiations on territorial swaps will start from the Line of Contact.

22. Once future territorial arrangements have been agreed, both the Russian Federation and Ukraine undertake not to change these arrangements by force. Any security guarantees will not apply if there is a breach of this obligation

23. Russia shall not obstruct Ukraine's use of the Dnieper River for purposes of commercial activities, and agreements will be reached for grain shipments to move freely through the Black Sea

24. A humanitarian committee will be established to resolve open issues:
a. All remaining prisoners and bodies will be exchanged on the principle of All for All
b. All civilian detainees and hostages will be returned, including children
c. There will be a family reunification program
d. Provisions will be made to address the suffering of victims from the conflict

25. Ukraine will hold elections as soon as possible after the signing of the peace agreement.

26. Provision will be made to address the suffering of victims of the conflict.

27. This agreement will be legally binding. Its implementation will be monitored and guaranteed by a Board of Peace, chaired by President Donald J. Trump. There will be
penalties for violation.

28. Upon all sides agreeing to this memorandum, a ceasefire will be immediately effective upon both parties withdrawing to the agreed upon points for the implementation of the agreement to begin. Ceasefire modalities, including monitoring, will be agreed by both parties under US supervision.