The US president has for weeks demanded that Kiev grant access to its natural resources so Washington can recoup the aid provided to Ukraine

US President Donald Trump and Vladimir Zelensky. ©  AP Photo/Ben Curtis

US President Donald Trump is receiving Ukrainian leader Vladimir Zelensky at the White house, where the two are expected to sign an agreement granting Washington access to Ukraine’s natural resources.

The idea of a deal involving Ukraine’s rare-earths was first floated by Zelensky last autumn, and the US president took him up on the offer earlier this month. There was some back-and-forth over the past few weeks, with the Ukrainian leader apparently attempting to secure more favorable terms.

The minerals deal is expected to provide a general framework and confirm the two nations’ intent to create a special joint fund to be followed up by a series of separate documents, stipulating the details.

White House economic adviser Kevin Hassett told NewsNation on Thursday that the “ballpark estimate of what it’s worth to the American people is around $20 billion.”

The Ukrainian government reviewed and greenlighted the agreement on Wednesday, according to Prime Minister Denis Shmigal.

Local media outlets Strana.ua and Evropeiskaya Pravda published what they claimed to be the text of the future agreement. According to the publications, 50% of all revenues from the future development of Ukraine’s natural resources will accrue to a joint fund, with the accumulated assets being invested in the country’s economy “at least once a year.”

Despite Kiev’s demands, Washington will not offer any security guarantees to Ukraine under the agreement, only “supporting” efforts to secure an arrangement.

Commenting on the deal, Russian President Vladimir Putin said earlier this month that it “doesn’t concern” Moscow.

28 February 2025

18:03 GMT

The US president warned Zelensky that he does not “have the cards right now” – “we’re not playing cards,” the Ukrainian leader retorted.

18:01 GMT

“You are in no position to dictate what we’re gonna feel,” a visibly irritated Trump told Zelensky after the Ukrainian leader suggested the US would feel the “influence” unless it continues backing Kiev.

18:01 GMT

J.D. Vance has chided the Ukrainian leader for coming to the “Oval Office of the United States of America and attack[ing] the administration that is trying to prevent the destruction of your country.”

17:47 GMT

Vice President J.D. Vance has joined the conversation, suggesting that Zelensky is being “disrespectful” toward the US leadership and ungrateful for the aid provided.

 

 

17:21 GMT

The US leader has stated he wants to see the “money get put to different kinds of use, like [the] rebuilding” of Ukraine as opposed to fighting.

17:19 GMT

President Trump has said he will try to bring the Ukraine conflict to a close, claiming that both Zelensky and Russian President Vladimir Putin want a cessation of hostilities.

17:11 GMT

Zelensky has arrived at the White House to meet with President Donald Trump. Greeting him at the entrance, Trump noted that the Ukrainian leader is “all dressed up today.” Zelensky is wearing a black long-sleeve shirt and what appear to be work boots.