On Friday Feb. 28, President Donald Trump and Ukrainian President Volodymyr Zelensky met and discussed a proposed agreement that would grant the United States (U.S.) access to Ukraine’s natural resources in exchange for U.S. investments in military equipment and security guarantees. The meeting centered around a draft deal that would establish a “reconstruction investment fund” that would be managed by both the U.S. and Ukraine. Ukraine’s Prime Minister Denys Shmyhal stated that Kyiv would direct half of its future revenue from state owned natural resources into the fund.
The agreement, which included access to Ukraine’s oil and gas deposits, raised points of contention during their discussion. President Trump and Vice President JD Vance demanded that Zelensky express his gratitude for U.S. military aid, additionally pushing for a ceasefire agreement urging Zelensky to accept it. However, Zelensky rejected the proposal citing several ceasefires Russia has broken before. The tension escalated when Zelensky made comments about the U.S. not feeling the impact of the war in Ukraine as directly as the Ukrainians, inciting an intense exchange between him and Trump.
Trump asserted that Zelensky was in no position to dictate terms to the U.S., stating, “Don’t tell us what we’re gonna feel.” Vance then urged Zelensky to “thank” the U.S. for its support, with Trump adding that president Zelensky does not “have all the cards right now.” He continued stating that Zelensky is “gambling with World War III” and urged him to be more thankful and agree to his terms.
Trump’s proposal included $500 billion worth of Ukraine’s natural resources in exchange for continued military support of Ukraine, which Zelensky opposed. The Ukraine president explained that this would put generations of Ukrainians in debt. Trump argued that Ukraine would receive $350 billion along with military equipment if they move forwards with the mineral deal.
Zelensky emphasized the importance of protecting strategic mineral deposits in Russian occupied areas of Ukraine from falling into Moscow’s hands, insisting on stronger security guarantees. His administration sought more Western support to prevent these resources from Russian control.
The meeting ended abruptly after contentions arose, with Trump seeking a public apology from Zelensky before moving forward with the proposals. The meeting ended without resolution with Trump announcing that he would pause military aid to Ukraine, delaying the delivery of military equipment that has not yet entered the country.
