New Delhi, Nov. 22 -- Ukrainian President Volodymyr Zelenskyy told his country in an address Friday that it could face a pivotal choice between standing up for its sovereign rights and preserving the American support it needs, as leaders discuss a U.S. peace proposal seen as favoring Russia.

Russian President Vladimir Putin, meanwhile, cautiously welcomed the U.S. plan to end Moscow's nearly four-year war in Ukraine, which contains many of the Kremlin's longstanding demands while offering limited security guarantees to Ukraine. Putin said it "could form the basis of a final peace settlement," while accusing Ukraine of opposing the plan and being unrealistic.

The plan foresees Ukraine handing over territory to Russia - something Kyiv has...