President Volodymyr Zelensky is looking to back out of a critical minerals agreement with the United States, U.S. President Donald Trump told reporters aboard Air Force One on March 30.
Ukrainian officials are currently reviewing the latest version of a minerals deal, which reportedly grants the U.S. unprecedented control over Ukraine's natural resources through a joint investment fund.
Trump told reporters he believes Zelensky no longer wants to sign the agreement and warned that his refusal would carry consequences.
"He's trying to back out of the rare earth deal and if he does that, he's got some problems, big, big problems," Trump said, according to Reuters.
"He wants to be a member of NATO, but he's never going to be a member of NATO. He understands that."
Zelensky said on March 28 that he would not sign a minerals deal that interferes with Ukraine's plans to join the European Union.
"Nothing that could threaten Ukraine's accession to the EU can be accepted," he said.
Bloomberg reported on March 29 that Kyiv was requesting changes to the current proposal, including greater investment from the U.S. and more clarity on how the joint fund would operate.
The Trump administration has touted the minerals deal as an essential part of Ukraine's path to peace, but has failed to offer concrete security guarantees in exchange for broad access to resources. Kyiv and Washington were set to sign an earlier version of the agreement on Feb. 28, but the plan fell apart after a heated Oval Office dispute between Zelensky, Trump, and Vice President JD Vance.
The White House has described the minerals deal as a mechanism for the U.S. to "recoup" some of the financial aid it has provided to Ukraine since the start of Russia's full-scale invasion.
Trump has also said he wants to explore a natural resources deal with Russia. Following a March 18 phone call with Russian President Vladimir Putin, Trump said the U.S. hoped to expand trade with Moscow and gain access to "very big forms of rare earth."
Putin previously said on Feb. 24 that Russia is open to working with foreign partners on developing rare earth metals, including in occupied regions of Ukraine.
The Kyiv Independent news desk
(Updated: )
