Donald Trump piled further pressure on Ukraine to sign a US-proposed deal for the rights to its mineral wealth, saying it was “stupid” and “not fair” that America was getting nothing in return for its support of the Ukrainian war effort.

“I think we’re pretty close to a deal,” the president said in a speech at the Conservative Political Action Conference (CPAC), adding: “We better be close to one.”

According to a revised draft of the deal seen by The New York Times dated Feb 21, the White House is demanding half of the revenues from Ukraine’s mineral wealth, gas and oil, as well as the profits from ports and other infrastructure.

Some of the terms are more demanding than the version revealed by The Telegraph last week.

Mr Trump claimed that the United States had given Ukraine $350billion (£277billion), comparing it to what he said was a $100billion “loan” from Europe.