President Donald Trump announced that Ukrainian President Volodymyr Zelenskyy will visit Washington on Friday to sign a bilateral economic development and mineral-sharing agreement. The deal would give U.S. interests access to Ukraine’s valuable mineral resources, including lithium and uranium deposits.
Mr. Trump describes the agreement partly as “payback” for billions in U.S. aid to Ukraine since Russia’s 2022 invasion. Earlier this month, Mr. Zelenskyy rejected a proposed $500 billion deal, stating Ukraine was seeking stronger security guarantees in exchange.
The proposed agreement would establish a co-owned investment fund to finance Ukraine’s postwar rebuilding. This fund would receive 50% of revenue from developed natural resources, potentially allowing the U.S. to recoup some of its war support costs.
A critical point of contention remains security guarantees. Mr. Zelenskyy insists these must be included, stating, “If we don’t get security guarantees, we won’t have a ceasefire.” However, Mr. Trump suggested Europe, not the U.S., should provide Ukraine’s security: “I’m not going to make security guarantees beyond very much. We’re going to have Europe do that.”
Mr. Trump is simultaneously pursuing diplomatic outreach with Russia. U.S. and Russian diplomats are scheduled to meet in Istanbul on Thursday to discuss improved relations. When asked about potential Russian concessions, Mr. Trump stated that Russian President Vladimir Putin “will have to” make concessions but declined to specify them. He later indicated Ukraine should forget about NATO membership.
Mr. Trump expressed confidence in reaching a compromise with Mr. Zelenskyy, suggesting American commercial interests in Ukraine’s economy would deter future Russian aggression. “We’ve been able to make a deal where we’re going to be able to get our money back,” Mr. Trump stated.
Meanwhile, Mr. Zelenskyy’s comments have been more measured, describing the accord as a preliminary “framework” and rejecting Mr. Trump’s characterization of Ukraine “paying back” aid. “We are not debtors,” Mr. Zelenskyy said. “There is no $500 billion [payment] in the agreement… because that would be unfair.”
British Prime Minister Keir Starmer is scheduled to meet with Mr. Trump on Thursday and will later gather with European leaders to discuss security issues, including a proposal to deploy European troops to Ukraine after a ceasefire.
Read more: Big questions loom as Trump predicts Ukraine will agree to minerals deal
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