KYIV, Ukraine — President Volodymyr Zelenskyy announced on Sunday that a controversial proposal from the Trump administration, suggesting the U.S. should receive $500 billion from Ukraine’s rare earth minerals as repayment for military aid, has been withdrawn. This decision indicates that a fairer arrangement may be on the horizon.
Previously, Zelenskyy rejected a draft from the U.S. concerning the use of valuable minerals like lithium, which play critical roles in industries such as aerospace and defense. Concerns stemmed from the absence of adequate security assurances and the burdensome financial stipulation.
“The issue of the $500 billion is off the table,” Zelenskyy stated during a news conference at a forum in Kyiv commemorating the three-year anniversary of Russia’s large-scale invasion. He articulated that framing aid in the context of a debt would create a “Pandora’s box,” implying that it could necessitate Ukraine compensating all its supporters.
Zelenskyy firmly asserted, “We do not acknowledge the debt,” signaling that such a notion would not be part of any final agreement. However, no additional details about ongoing negotiations were provided. Ukraine continues to demand security guarantees to better safeguard against any future Russian hostilities.
In a discussion on CNN’s “State of the Union,” former special envoy Steve Witkoff expressed optimism regarding an impending agreement that would enhance the U.S.’ role in exploiting Ukraine’s mineral wealth.
According to Treasury Secretary Scott Bessent, the administration aims to establish a partnership with Ukraine centered around its mineral resources, describing it as a “win-win” scenario. “We profit when the Ukrainian people profit,” Bessent conveyed on a Fox News program.
Andrii Yermak, Zelenskyy’s chief of staff, departed the Kyiv forum early with Economic Minister Yuliia Svyrydenko. Yermak clarified that they were engaged in discussions with U.S. officials about a potential deal. Following their talks, Yermak communicated on social media about the constructive nature of his discussion with U.S. officials, including Bessent and Mike Walz, former national security adviser under Trump, emphasizing progress in their negotiations.
When asked in a press conference if he would renounce his presidency for peace in Ukraine, Zelenskyy expressed willingness, stating he would relinquish his position for a stable peace under NATO’s protection. “If it takes my resignation to achieve peace, then I am prepared to make that sacrifice,” he mentioned, suggesting a trade-off for NATO membership.
This statement seemed to counter recent comments from Trump and Russian President Vladimir Putin advocating for elections in Ukraine despite existing laws that prohibit such events during martial law, underscoring the tension surrounding Ukraine’s sovereignty and governance.
Concerns have risen over Trump’s shift towards engagement with Russia, with Ukrainian officials fearing that his push for a quick resolution may jeopardize Ukraine’s territorial integrity and safety from future Russian threats. U.S. officials have reassured that Zelenskyy would play a role in any forthcoming peace discussions.
Trump’s assertions about the origins of the conflict and his characterization of Zelenskyy as a “dictator” for not conducting elections have caused distress in Kyiv.
Meanwhile, Russian Deputy Foreign Minister Sergei Ryabkov indicated on Sunday that Moscow and Washington would resume bilateral talks next week, involving heads of departments from both nations’ foreign ministries, while emphasizing ongoing communications.
In the face of changing U.S. policies, high-ranking European officials, such as the European Union Commission President Ursula von der Leyen, are scheduled to visit Kyiv to engage with Ukraine’s leadership. This visit is part of broader efforts to develop a cohesive response to the Trump administration’s new direction and to maintain support for Ukraine amid concerns over U.S. aid.
The U.K. announced plans to introduce significant sanctions against Russia, described as the most extensive package since the conflict’s inception. Foreign Secretary David Lammy stated these measures aim to undermine Russia’s military capabilities and disrupt revenue streams fueling destruction in Ukraine.
British Prime Minister Keir Starmer and French President Emmanuel Macron are also set to meet with U.S. officials this week, seeking to influence Trump’s approach to maintaining support for Ukraine.
On the military front, Zelenskyy reported a significant escalation in Russian attacks, with a record 267 drones launched over Ukraine in a single night. Ukraine’s air force intercepted 138 of those drones, although three ballistic missiles also struck, resulting in casualties in the city of Kryvyi Rih.
Amid these escalating tensions, Andrii Sybiha, Ukraine’s foreign affairs minister, reiterated on social media the importance of examining Putin’s actions rather than his rhetoric, underscoring the volatile and precarious situation Ukraine faces.
