National Security Advisor Mike Waltz said Thursday that President Trump and other US officials were “very frustrated” with Ukrainian President Volodymyr Zelensky over his recent rhetoric and for not signing a deal that would give the US access to Ukrainian rare earth minerals and other natural resources.
“[Trump’s] frustration with President Zelenskyy that you heard is multifold,” Waltz told reporters at the White House. “One, there needs to be a deep appreciation for what the American people and the American taxpayer, what President Trump did in his first term and what we’ve done since. There’s some of the rhetoric coming out of Kyiv, frankly, and insults to President Trump (that) were unacceptable.”
Waltz said the second reason Trump was frustrated was due to Zelensky turning down a rare earth deal brought to him by US Treasury Secretary Scott Bessent. “Our own secretary of the Treasury personally made the trip to offer the Ukrainians what could only be described as a historic opportunity. That is for America to co-invest with Ukraine in their minerals, in their resources,” he said.
According to media reports, the offer Bessent brought to Zelensky would have given the US 50% of the rights to Ukraine’s rare earth minerals and other resources. It didn’t include any formal security guarantees, but Waltz said the US investing in Ukraine would be the “best security guarantee they can hope for. More than another pallet of ammunition.”
Axios reported on Thursday that the US has offered Ukraine a new proposal on a rare earth deal that addressed some Ukrainian concerns, the details of which are unclear. Sources told the media outlet that some of Zelensky’s aides are encouraging him to sign the deal to end the spat with Trump and give him a reason to justify continued US support for Ukraine.
Zelensky discussed the rare earth deal on Thursday with US special envoy Keith Kellogg, who was visiting Ukraine. After the meeting, Zelensky said Ukraine was ready for a “strong, effective investment and security agreement” with President Trump.
“We have proposed the fastest and most constructive way to achieve results. Our team is ready to work 24/7,” Zelensky said.
The Kellogg-Zelensky meeting came a day after Trump slammed Zelensky as a “dictator” who has done a “terrible job.” The spat between the two leaders was also related to the US holding talks with Russia without Ukraine, something Zelensky had complained about.
