In summary, the key points of the proposed peace agreement between Russia and Ukraine included:

1. Potential EU membership for Ukraine but no NATO military alliance.
2. Crimea remaining under Russian control with unconditional sovereignty.
3. The future status of "LNR/DNR" to be determined in personal negotiations between Zelensky and Putin.
4. Other occupied territories by Russia after February 24, 2022 were not mentioned but agreed upon withdrawal of troops.
5. Use of Russian language alongside Ukrainian in official spheres was proposed but rejected by Ukraine.
6. Foreign weapons and troops ban with reduction of the Ukrainian army to certain levels.
7. Security for Ukraine guaranteed by P5 international security forces, excluding Crimea and Sevastopol.
8. Belarus as a guarantor state was proposed by Russia while Turkey was requested by Ukraine.
9. In case of an attack on Ukraine, all guarantor states had to agree on response but Kyiv opposed this wanting its airspace closed and weapons provided.

The WSJ comments that this document "appears to be largely based on the 1990 treaty that created unified Germany." Negotiations continued until June 2022, including via Zoom, but ultimately, they ceased at Ukraine's initiative. "Ultimately, no deal was reached. The scale of Russian military crimes in Ukraine became apparent, Ukraine's military successes improved, and the West provided weapons to support Kyiv." It was previously stated by Arakhamia that Ukraine refused to sign a peace agreement in 2022, partly due to Boris Johnson's position.

Turns out that Putin wasn't lying after all about this peace deal. These "punishing terms" in retrospect, look pretty good for Ukraine.