On February 28, 2025, Ukrainian President Volodymyr Zelensky arrived in Washington with the expectation of signing a deal with the Trump administration regarding Ukraine’s vast mineral deposits. The agreement was intended as a payment for the U.S. military assistance provided to Ukraine in its ongoing war with Russia and requires that 50% of the profits from minerals, gas, oil, LNG and ports is put into a joint fund as payback for US assistance and 50% for Ukraine’s reconstruction, a deal which critics have labelled as gangsterism. colonialism and extortion.
However, what began as a diplomatic exchange soon escalated into a confrontation in front of the world’s press. Both Trump and U.S. Vice President JD Vance attempted to pressure Zelensky, seeking to ambush, humiliate, and threaten him into signing the agreement. Trump delivered a blunt ultimatum: “You’re either going to make a deal, or we’re out,” adding, “Your country’s in big trouble… You’re not winning, you’re not winning this… You have a damn good chance of coming out OK because of us.”
To understand the sharp exchange, it’s essential to place it in the broader context of U.S. foreign policy under Trump, particularly his shifting stance towards Russia and Europe. Trump’s policies largely continue the bipartisan approach laid out under previous administrations, especially regarding the challenge posed by China. One key component of this strategy is the acquisition of critical rare earth minerals, over 70% of which are mined and controlled by China, including dominance over their refining and processing.
Rare earth minerals are vital in the manufacturing of advanced electronics, high-performance magnets, superconductors, military equipment, and sustainable energy technologies. Trump’s aggressive pursuit of these minerals has involved pressuring countries like Greenland, Canada, and Ukraine—countries rich in these resources—as well as intensifying tensions in the African country of Congo.
Trump’s shift on Russia ties directly into this strategy. A growing frustration emerged within Ukraine, particularly after Trump’s unilateral phone call with Russian President Vladimir Putin, which took place without consulting Zelensky or European leaders. Following that conversation, the Trump administration drastically altered its rhetoric towards Russia, including a refusal to identify Russia as the aggressor. Trump also suggested that Ukraine should accept the loss of territory occupied by Russia, announced the U.S. would no longer support Ukraine’s NATO membership, and made it clear that the U.S. would reduce its military involvement in the conflict, leaving Europe to take charge.
In response, Zelensky attempted to secure U.S. military guarantees in exchange for agreeing to the mineral deal, but Trump rejected these requests. Despite efforts by French President Macron and British Prime Minister Keir Starmer to negotiate a U.S. “backstop” during their visits to Washington, Trump insisted that American contracts and personnel presence in Ukraine were sufficient guarantees of security. Zelensky’s refusal to sign the agreement without these assurances angered Trump, who lashed out, calling Zelensky a “dictator” and threatening consequences if the deal wasn’t finalized.
The situation reached a boiling point at the White House meeting, where Zelensky remained steadfast in his refusal to concede to Trump’s demands. In an interview immediately following the meeting with the pro-Trump Fox News channel, Zelensky explained his distrust, citing his frustration at being kept in the dark about Trump’s private talks with Putin and the administration’s pro-Putin stance.
Zelensky’s position stems from a broader reality: Ukraine’s role in U.S. foreign policy has shifted, with Trump prioritizing the broader strategic goals of curbing China’s influence and securing access to vital minerals. Trump’s policy towards Russia is a departure from the approach under President Biden, who sought to undermine Russia by using Ukraine to strain the Russian economy and weaken its alliance with China. However, Trump’s approach diverges by seeking to soften relations with Russia, particularly to persuade Putin to distance himself from China and establish a new economic and security partnership with the U.S. This shift was evident in several key actions:
Additionally, many of Ukraine’s mineral-rich territories are now under Russian control, and Putin has been eager to discuss joint American-Russian ventures. According to a Reuters report from February 25, 2025, Putin offered, “We, by the way, would be ready to offer (joint projects with) our American partners, and when I say ‘partners,’ I mean not only administrative and governmental structures but also companies, if they showed interest in joint work.”
Given these geopolitical considerations, the Trump administration has little incentive to offer Zelensky any security guarantees. The threat made to Zelensky during the White House meeting—“You’re either going to make a deal, or we’re out”—underscores the reality of Ukraine’s diminished leverage in this new political landscape. Trump made it clear: “The problem is I’ve empowered you to be a tough guy, and I don’t think you’d be a tough guy without the United States…You’re either going to make a deal, or we’re out. If we’re out, you’ll fight it out. I don’t think it’s going to be pretty, but you’ll fight it out. But you don’t have the cards. But once we sign that deal, you’re in a much better position.”
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