US President Donald Trump stated on Saturday that he was attempting to recover the billions of dollars sent to support Ukraine's conflict with Russia.
His remarks came as Washington and Kyiv discuss a mineral resources agreement that Trump wants as compensation for the wartime assistance his predecessor Joe Biden provided to Ukraine.
It was the latest development in a dynamic first month since he took office, during which he has significantly altered US foreign policy by making diplomatic initiatives towards the Kremlin at the expense of Ukraine and Europe.
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At the Conservative Political Action Conference (CPAC) near Washington, Trump said, "I'm attempting to retrieve or secure the funds."
We're expecting a substantial return on our investment, considering the resources we've committed. We're seeking access to rare earth minerals and oil, and we're open to any other valuable commodities they can offer.
We're going to get our money back because it's not fair. And we will see, but I think we're quite close to a settlement, and we'd better be close because this has been a terrible situation.
Just hours before, a source stated that Ukrainian President Volodymyr Zelensky was "not ready" to sign such an agreement, despite increasing US pressure.
US President Trump's special envoy Keith Kellogg, who met with Ukrainian President Zelensky earlier this week, stated that Zelensky understood that signing an agreement with the US was "critical".
However, the Ukrainian source stated that Kyiv required guarantees first.
"At present, the draft is not in a form that the president is willing to accept. We are still working on making adjustments and incorporating constructive elements," the source with knowledge of the matter stated.
Ukraine is seeking any agreement it signs with the US to include security assurances as it faces Russia's nearly three-year-long invasion.
Tensions between the two countries are escalating as Trump and Zelensky engage in a heated exchange, sparking concern in Kyiv and across Europe.
On Wednesday, Trump referred to his Ukrainian counterpart as a "dictator" and urged him to "act quickly" to end the war, a day following talks in Saudi Arabia between Russian and US officials without Kyiv's participation.
The United States has submitted a United Nations resolution related to the Ukraine conflict, which does not include any reference to the Ukrainian territory currently under Russian control, according to diplomatic sources.
President Trump has requested "US$500 billion worth" of rare earth minerals as compensation for the aid provided to Kyiv, a sum Ukraine has rejected, which is significantly higher than the officially reported US aid figures.
"There are no American commitments in the agreement regarding guarantees or investments, everything related to them is very unclear, and they want to extract $500 billion from us," the Ukrainian source said of the proposed deal.
"What kind of partnership is this? And why do we have to give US$500 billion, there is no answer," the source stated, noting that Ukraine had proposed amendments to the draft.
The United States has provided Ukraine with $65.9 billion in military aid since Russia's invasion, as per official records - the largest contribution among Ukraine's allies, though significantly less than the amount claimed by Trump.
The Kiel Institute, a German economic research organization, stated that from 2022 to the end of 2024, the United States provided a total of 114.2 billion euros (approximately 119.8 billion US dollars) in financial, humanitarian, and military assistance.
A high-ranking Ukrainian official stated on Friday that despite the heightened tensions, negotiations for a potential agreement were "ongoing". The US Secretary of State, Anthony Blinken, commended Zelensky as "courageous" following his visit to Kyiv earlier this week.
Fighting escalates at a crucial point in the conflict. Ukraine is commemorating the third anniversary of Russia's invasion on Monday, as Ukrainian forces are gradually losing ground on the front line.
Moscow's defense ministry stated earlier on Saturday that Novolyubivka in the eastern Luhansk region is now largely under Russian control, claiming its capture.
In a call with Zelensky on Saturday, the British Prime Minister, Keir Starmer, gave an assurance of "the UK's unwavering support for Ukraine".
Zelensky praised the United Kingdom for demonstrating "leadership" in the war against Russia.
In the UK capital, thousands of people took to the streets on Saturday to show their backing for Ukraine, and opinion polls indicate a robust level of support for the Ukrainian capital, Kyiv.
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