Donald Trump has said a deal for Ukraine’s rare earth metals is “pretty close” and the US is targeting “anything we can get” in exchange for the aid it’s provided.
Mr Trump told a conference he was determined to get payback for billions of dollars of military hardware and other assistance.
However, a source has told Sky News that President Zelenskyy is not ready to accept the agreement that’s been drafted.
“I want them to give us something for all the money we put up,” Mr Trump told the CPAC conference. “So we’re asking for rare earth and oil – anything we can get!”
He claimed European countries had given their aid as a loan but the US had not – meaning they were due some compensation.
“We’re going to get our money back because it’s not fair,” Mr Trump told the event in Maryland.
“And we will see, but I think we’re pretty close to a deal. We better be close to a deal”.
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Mr Trump claimed the US had given $350bn in aid, but some international bodies – such as Kiel’s Institute for the World Economy – estimate it’s around $120bn.
Rare earth metals are elements used in high-tech goods such as mobile phones and electric vehicles. Demand is increasing but there are concerns over future availability.
Mr Trump’s national security adviser, Mike Waltz, told the same conference on Friday that he also believed a deal would be struck.
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Despite US optimism, a Ukrainian source said an agreement was not yet close due to “a number of problematic issues”.
They said drafts did not “reflect a partnership in the agreement and contain only unilateral commitments by Ukraine“.
Kyiv is likely to be pressing for robust security guarantees from America in any future peace deal with Russia.
Mr Trump’s speech on Saturday evening spanned many subjects, taking numerous digs at opponents such as Joe Biden and heralding what he said were numerous achievements since he regained the White House.
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He also shouted out visitors in the audience such as Reform leader Nigel Farage, calling him a “great guy”, and Argentinian President Javier Milei – who spoke to the conference in Spanish on Saturday.
Italian premier Giorgia Meloni, seen as a key Trump ally in Europe, also delivered a video message defending the political direction of the continent.
“I know you can perceive Europe as distant and lost, but I can tell you it’s not,” said Ms Meloni – who also reaffirmed support for Ukraine, saying it was resisting “a brutal aggression” from Russia.
President Trump repeated his optimism that a deal to end the war is possible under his watch, saying he was “dealing” with both the Ukrainian and Russian leaders.
“I’ve spoken to President Putin and I think that thing [the war] is going to end,” he told the conference.
Ukraine has insisted it won’t accept any deal agreed without its participation, after it was excluded from this week’s meeting between top US and Russian diplomats in Saudi Arabia.
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Tensions have been rising in recent days between President Trump and President Zelenskyy.
The US leader referred to Mr Zelesnkyy as a “dictator”, apparently in response to the Ukrainian president saying Mr Trump was living in a Russian “disinformation space”.
Sir Keir Starmer again lent his unwavering backing to Ukraine’s leader in a phone call on Saturday.
Downing Street said the prime minister “reiterated his ironclad support” and “commitment to securing a just and enduring peace to bring an end to Russia’s illegal war”.
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It comes days before Sir Keir and French President Emmanuel Macron head to Washington for tricky talks in which they must press Ukraine’s case while keeping the US leader onside.
President Trump told a radio show on Friday that the two European leaders “haven’t done anything” to end the war.
