Ukrainian President Volodymyr Zelensky on Wednesday dismissed U.S. demands for $500 billion in mineral wealth as repayment for wartime aid, stating that Washington had not provided assistance anywhere near that amount and had not included specific security guarantees in its proposal.
He said the U.S. had supplied Ukraine with $67 billion in weapons and $31.5 billion in direct budget support during the nearly three-year conflict with Russia.
Zelensky, facing pressure from Trump’s administration, said the U.S. proposal sought 50% ownership of Ukraine’s critical minerals in exchange for continued support. He added that the deal lacked security assurances and did not account for Ukraine’s financial constraints.
“You can’t call this $500 billion and ask us to return $500 billion in minerals or something else. This is not a serious conversation,” he said.
Trump has pushed for rare earth minerals from Kyiv as a condition for future U.S. assistance. His team presented a draft deal last week, which Ukraine declined in its current form.
Zelensky said he insisted on security guarantees but was told the U.S. offer stood at 50% ownership. “I said: OK, no. Let the lawyers work some more,” he added, emphasizing that negotiations were ongoing.
The debate over aid figures has gained significance as Kyiv seeks to maintain support from Washington, a key ally. On Tuesday, Trump questioned where the allocated funds had been spent.
In response, Zelensky said total aid from the U.S. and EU amounted to $200 billion, out of $320 billion spent on Ukraine’s war effort, with Ukrainians covering the remaining $120 billion.
