US Treasury Secretary Scott Bessent met with Ukrainian President Volodymyr Zelensky in Kyiv on Wednesday to discuss President Trump’s idea for a deal to give the US access to Ukraine’s rare earth minerals and other natural resources in exchange for continued US military aid.
Bessent said that a rare earth deal would ensure Ukraine will have a post-war “security shield” from the US, signaling the Trump administration’s idea for a peace deal will involve continued US military aid, an idea that may not be acceptable to Russia.
“By increasing our economic commitment through a partnership with the government and people of Ukraine, that will provide — once this conflict is over — it will provide a long-term security shield for all Ukrainians,” Bessent said.
While the details are unclear, Bessent and Zelensky said they discussed the preparation of a document for a potential deal. “I believe this document is important from President Trump’s perspective in resolving this conflict as soon as possible. We will provide guarantees of American assistance to the people of Ukraine. I believe this is a very strong signal to Russia about our intentions,” Bessent said.
Zelensky said he was happy with the US proposal. “We had a productive, constructive conversation. For me, the issue of security guarantees for Ukraine is very important, and we talked about minerals in general,” he said.
The meeting came on the same day President Trump spoke with Russian President Vladimir Putin and said negotiations on ending the war in Ukraine would begin “immediately.”
After the call with Putin, Trump touted his idea for a rare earth deal, telling reporters it was necessary to “secure” the money the US has spent on the proxy war. “We’re getting security on our money; we’re gonna have it secured. They have rare earth and oil and gas, and they have a lot of other things. We’re asking for security in our money,” he said.
When asked if the US would send more aid to Ukraine, Trump said, “We are but we want the money secured.”
