US President Donald Trump has confirmed that Ukrainian President Volodymyr Zelensky will visit the White House on Friday to sign a major minerals deal, but he refused to offer security guarantees for Ukraine.
Speaking ahead of the meeting, Trump stated, “I’m not going to make security guarantees beyond – very much. We’re going to have Europe do that.”
Ukraine to Hand Over Billions in Mineral Wealth
Under the agreement, Ukraine will transfer control of billions of dollars worth of mineral wealth and other natural resources to the United States.
Zelensky told CNN that the deal serves as a “framework” but lacks “concrete steps on security guarantees”, which he said must be negotiated with the US and Europe.
Zelensky hopes that securing the minerals deal will strengthen ties with Trump and gain US support.
Speaking ahead of the meeting, he intended to discuss Ukraine’s bilateral relationship with the US.
“This deal could be a great success, or it could pass quietly,” Zelensky said on Wednesday. “The big success depends on our conversation with President Trump.”
Reconstruction Investment Fund to Be Created
The agreement also includes the creation of a Reconstruction Investment Fund, which will be jointly managed by Ukraine and the US. Under this initiative, Ukraine will contribute 50% of all revenues generated from natural resource assets, including rare earth minerals, natural gas, oil, and hydrocarbons.
Over the weekend, Trump reiterated his stance on US aid to Ukraine, stating that he was working to recover the money that the Biden administration had previously sent to help Ukraine fight Russia’s invasion.
At a press conference in Kyiv, Zelensky addressed concerns over debt repayment, saying, “I will not accept (even) 10 cents of debt repayment in this deal. Otherwise, it will be a precedent.”
Trump and Zelensky’s Recent Tensions
The upcoming meeting follows a heated exchange between the two leaders last week, when Trump called Zelensky a “dictator.”
In response, Zelensky fired back, accusing Trump of “living in a disinformation space” created by Russia.
Ukraine’s Resource Wealth and China Concerns
According to a pre-war assessment by the Kyiv School of Economics, Ukraine possesses more than 100 major deposits of rare minerals and some of the largest oil and natural gas reserves in Europe.
Meanwhile, Trump’s shifting policies on Ukraine have sparked concerns that China could take advantage of the situation and advance its territorial claim on Taiwan.
Trump declined to comment when asked whether the US would prevent China from taking Taiwan by force. Instead, he stated that he has a “great relationship” with Chinese President Xi Jinping.
