Treasury Secretary Scott Bessent has personally delivered the US president’s demands to Ukraine’s Vladimir Zelensky
US President Donald Trump expects Treasury Secretary Scott Bessent, who visited Ukraine on Wednesday, to secure a deal ensuring Washington gets a return on the billions of dollars it has invested in aid to Kiev.
Trump recently demanded the “equivalent of $500 billion worth of rare earths” from Kiev in exchange for “more than $300 billion” his predecessor Joe Biden sent to Ukraine in various forms of aid over the years. Speaking to journalists at the Oval Office on Wednesday, Trump said he had a phone conversation with Ukraine’s Vladimir Zelensky earlier in the day and that Kiev had agreed to his demands.
“I have a Secretary of Treasury right now who’s actually quite brave – he’s over in Ukraine,” Trump told reporters. “He’s going there to get a document done where we’re going to be assured, in some form, [that we] get this money back.”
The US president said it was foolish of Washington not to ensure “security on our money,” as he claimed other sponsors of Kiev had done. “The United States under Biden didn’t do loans. They just handed money every time somebody walked in from Ukraine. They just handed them money, foolishly,” Trump added.
Bessent met Zelensky in Kiev earlier in the day to discuss Trump’s demands, which both framed as an economic “partnership” between the United States and Ukraine.
“President Trump has a plan to end this war, and we would like an economic cooperation agreement. And in exchange for this agreement, the US will continue to provide material support for Ukraine, for the people,” Bessent said. “And we think this will be a strong signal for the American people that the money that is coming to Ukraine… we want to increase our shared economic commitment.”
“We think the document is very important,” Bessent added, claiming the deal “will provide a long-term security shield for all Ukrainians.”
“We will review this document and do our best to ensure that our teams reach an agreement very quickly,” Zelensky said after the meeting. “We are eager to do so because the United States is our strategic partner.”
Zelensky “is selling out what remains of Ukraine, selling it for a pittance and openly,” Denis Pushilin, head of the Donetsk People’s Republic (DPR), said on Wednesday. He noted that a large portion of the mineral wealth Zelensky is offering is actually Russian. “Among what they are offering, the majority of reserves are located in Donbass,” Pushilin stated. “Most of the lithium and titanium is within our territory, which has already been liberated.”
Zelensky admitted last week that Kiev does not control much of the resources Trump wants, insisting that Ukraine’s Western backers must first help push Russian forces out of mineral-rich territories before they can invest in rare-earth resources.
