Zelensky rejects Trump’s claim of U.S. assistance as debt
Speaking at the press conference "Ukraine: Year 2025", Ukrainian President Volodymyr Zelensky stated that he does not acknowledge the U.S. assistance as debt, contrary to U.S. President Donald Trump's claims. According to Zelensky, an agreement was reached with the previous U.S. administration categorizing the aid as a grant.
"Regarding the agreement, I mentioned earlier; it all started with our victory plan. We believe Russia is occupying our territories, and we must defend them against the occupying forces of the Russian Federation and their allies like North Korea and Iran. You all know this needs protection, and we need security guarantees. Ukraine says – give us a security guarantee. This is an indivisible part of the dialogue. We're ready. Are you ready? And our response is, let's talk, here’s access to minerals. Let's discuss extraction, oil, and gas. You extract – we share. You have the priority. You are number one. But make sure to stop the enemy and restore justice for us. End the war, make Putin. That’s roughly the story," Zelensky declared.
Zelensky detailed that the proposal also included containment packages, weaponry, and air defense missiles. He emphasized that it was a comprehensive proposal.
"We need security guarantees, including strengthening the Ukrainian army and equipping our military fully. Air defense, 100% protection over Ukraine. We received a first agreement lacking security guarantees. There was no scandal here; it just didn’t meet the request. It was about splitting everything 50-50. That’s how the initial deal looked. I said I wouldn’t agree or let ministers sign," Zelensky added.
He then mentioned a second proposal indicating a purported "debt" of Ukraine to the U.S. amounting to $500 billion.
"The second story began with another agreement format appearing. They showed a $500 billion figure. Then all U.S. messages until now became clear, talking about debt recognition. That our fund, which receives proceeds from extraction, belongs 100% to the U.S., signifies this isn’t a co-investment. Regardless of whether we fill it with minerals or companies of our own… I don’t plan to accept $500 billion in U.S. help as debt. Whether anyone likes it or not, even $100 billion isn’t on the table since a grant isn’t debt. I spoke about this with Biden. But the agreement is that it’s a grant. We don’t acknowledge it as a debt. We won’t repay grants," emphasized Zelensky, adding he wouldn’t sign a deal "that future Ukrainian generations will be repaying."
U.S. President Donald Trump insists that Kyiv grants the U.S. concessions for mining worth $500 billion as recognition of Washington’s assistance. Reports state that Trump is eager to present a narrative to the American public that investments are being recouped.
However, the draft agreement recently brought to Kyiv by the U.S. Treasury Secretary was not disclosed. According to the Ukrainian President, the arrangement focused excessively on U.S. interests, missing security guarantees for Kyiv. This led to the draft being sent back with a request for further refinement. Meanwhile, at a Saudi-organized investment conference in Miami, Trump blamed Zelensky for supposedly obstructing the minerals deal.
At the same time, Reuters, citing sources, reported Ukraine might consider an agreement with Trump’s administration, though it shouldn’t be as “exploitative” as the initial U.S. proposal. The report suggests Trump’s administration might pursue a framework agreement on mining to establish common ground, with details discussed later.