President Donald Trump said Monday that he’s close to securing a minerals-for-aid deal with Ukraine and that the war-torn country’s president, Volodymyr Zelenskyy, may come to the White House this week or next for an official signing.
Trump also indicated he’s seeking a separate deal to access raw materials in Russia.
During a bilateral meeting with French President Emmanuel Macron at the White House on the third anniversary of Russia’s invasion of Ukraine, Trump said his Cabinet is “very close” to reaching a “final deal” with Ukraine, and that “it’ll be a deal with rare earths and various other things.”
Zelenskyy, he said, “would like to come, as I understand it, here to sign it, and that would be great with me.” Trump added, “I think they’d then have to get it approved by their council or whoever might approve it, but I’m sure that will happen.”
Negotiations have largely focused on large deposits of minerals in Ukraine, including lithium, graphite and rare earths, a group of 17 elements that are relatively abundant in the Earth’s crust and that are critical for advanced technologies and industries, including clean energy, transportation and consumer electronics.
Trump, who is also planning to meet with President Vladimir Putin of Russia, said a deal was close despite reports that Zelenskyy is refusing to sign off on the pact and pushing for more security guarantees for the Ukrainian people. Trump said the agreement will allow the U.S. to recoup money over time tied to the more than $350 billion the U.S. has provided in aid.
Treasury Secretary Scott Bessent, who was sitting near Trump, concurred that a mineral deal was close: “We are very close, one yard line.”
Macron at the meeting said European officials are working to ensure the deal is good for Ukraine and includes security guarantees, and noted that Trump confirmed he’s meeting with Zelenskyy soon. Macron also said he’s hoping to reach a truce to halt the war and structure discussions around that, from territories to minerals.
When asked whether the deal would include a security guarantee for Ukraine, Trump said Europe would “ensure nothing happens,” and that completing the minerals deal would make certain there is no more war in Ukraine.
Separately, Trump said he’s also attempting to do some “economic development deals” with Russia, which he said is a massive country that “has things we want, like rare earths.”
