Trump demands S$666 billion deal on Ukraine's mineral resources in exchange for previous aid

U.S. President Donald Trump said he is trying to get back billions of dollars as payment for aid previously sent to support Ukraine in its war against Russia.

According to ABC News, Ukraine is working with the U.S. on an agreement to give the U.S. revenue from some of Ukraine's most valuable resources.

The proposed agreement from the U.S. requests that Ukraine give America 50 per cent of the revenue from its valuable natural resources, which include mineral resources, oil and gas resources, and other infrastructure.

Money back

Speaking at the Conservative Political Action Conference on Feb. 22,  Trump said he wants Ukraine to give the U.S. "something for all of the money that we put up. We're asking for rare earth and oil, anything we can get."

"We're going to get our money back because it's just not fair. And we will see, but I think we're pretty close to a deal, and we better be close because that has been a horrible situation."

Trump claimed that Ukraine "essentially" agreed to a US$500 billion (S$666 billion) deal in Ukraine's natural resources in exchange for aid, the Kyiv Independent reported.

Not US$500 billion

However, the Kyiv Independent stated that the U.S. contributed only about US$100 billion in support to Ukraine.

Speaking to the media, Zelensky refuted Trump's claim and stated that the U.S. provided US$67 billion in weapons and US$31.5 billion in budget support.

"But one cannot count up to US$500 billion and say, 'give us back US$500 billion in minerals,' that's not a serious discussion," said Zelensky.

Previously, Trump called Zelensky a "dictator".

On Feb. 19, Trump went on his social media platform, Truth Social, and called Zelensky a "dictator without elections".

He reiterated his statement on Feb. 20 (Singapore time) at the FII Priority Summit, where he also called Zelensky a "modestly successful comedian".

He claimed Zelensky talked the U.S. into spending S$350 billion to help in the Russia-Ukraine conflict, apparently S$200 billion more than Europe's contribution.

Trump added that Zelensky said half the money sent to Ukraine was "missing".

"He refuses to have elections, is very low in Ukrainian polls, and the only thing he was good at was playing [Joe] Biden 'like a fiddle'. A dictator without elections, Zelensky better move fast or he is not going to have a country left," Trump wrote.

US demands on Ukraine not the same as aid to Israel

In response, Zelensky offered to resign if a peace deal could be achieved that guarantees Ukraine's security, or Ukrainian membership of NATO.

He shrugged off Trump's accusations of being a "dictator", pointing out that he won his 2019 election with over 70 per cent of the vote.

Zelensky also said it was not feasible to conduct a legitimate election in wartime, with soldiers on the frontlines, much of Ukraine's eastern territory under Russian occupation and frequent drone attacks on Ukrainian cities.

The president also pointed out that previous U.S. aid was offered as a grant, not debt that had to repaid, the Guardian reported.

Zelensky also revealed the financial terms that the Trump Administration is trying to impose.

For every US$1 of future military aid that the U.S. provides to Ukraine, it will have to pay back US$2.

However, the same conditions were not applied to U.S. military aid for Israel, the UAE, Qatar or Saudi Arabia.

Top photos via The White House/X & Chay Bowes/X