The deal includes provisions for the co-ownership and management of a post-war reconstruction fund for Ukraine, to which Ukraine will allocate 50% of future revenues from the country’s natural resources. Trump has characterised the minerals deal as a type of “backstop” in lieu of the security guarantees where the U.S. supports European peacekeeping forces in Ukraine after its war with Russia ends.

According to BMI, Ukraine has deposits of 22 of the 50 minerals classified as critical by the U.S. government and has significant deposits of lithium, graphite, titanium, uranium used to generate nuclear power, alongside rare earth elements. 

Source: reuters 

The deal plan was abruptly called off with an astonishing turn of events. Trump told Zelenskyy, "You're not acting at all thankful" for the support Zelenskyy's country had received from the United States, adding that the Ukrainian leader had been disrespectful and telling him, "You're gambling with World War III."

Trump said “I have determined that President Zelenskyy is not ready for Peace if America is involved, because he feels our involvement gives him a big advantage in negotiations,” he said. “I don’t want an advantage, I want PEACE. He disrespected the United States of America in its cherished Oval Office. He can come back when he is ready for Peace.”

Zelenskiy had seen the meeting in the Oval Office as an opportunity to convince the United States not to side with Russian President Vladimir Putin, who ordered the invasion of Ukraine three years ago.

Vice President JD Vance defended Trump's approach as "diplomacy." Zelenskyy, who has been seeking greater security assurances as part of any deal to end the war, elicited a strong response, he said “Putin had broken previous deals. He broke the ceasefire. He killed our people. ... What kind of diplomacy, JD, you are speaking about? What do you mean?"

Zelenskyy said "During the war, everybody has problems, even you. But you have a nice ocean and don't feel it now. But you will feel it in the future. God bless, you will not have war," Trump interjected by saying, "Don't tell us what we're gonna feel. We're trying to solve a problem."

This dramatic shift invited criticisms from top democratic lawmakers. French President Emmanuel Macron told reporters,"There is an aggressor, which is Russia, and a people who have suffered aggression, which is Ukraine." He demanded respect for those fighting for "their independence, for their children and for the security of Europe."

European Union foreign policy chief Kaja Kallas wrote on X, "We will step up our support to Ukraine. Today, it became clear that the free world needs a new leader. It's up to us, Europeans, to take this challenge."