Ukrainian President Volodymyr Zelensky has firmly rejected demands from U.S. President Donald Trump that Ukraine repay past American aid, arguing that the funds were grants, not loans, and accusing Trump of seeking to exploit Ukraine's vulnerability for financial gain.
The standoff comes as Trump pushes Kyiv to hand over $500 billion worth of natural resources, including rare earth minerals, oil, and gas, in return for previous U.S. military and financial support. Ukraine has insisted that any deal must be future-oriented, involving payments for continued assistance rather than retroactive reimbursement.
Speaking at a forum in Kyiv on Sunday, Zelensky said he would not sign an agreement that "will be paid by ten generations of Ukrainians."
He also suggested he would be willing to step down as president if it would bring peace or secure NATO membership for Ukraine. In a post on Truth Social, US President Donald Trump labelled Zelensky a "dictator" and blamed him for the Russian invasion.
Trump Seeks Compensation for Past Aid
During a speech at the Conservative Political Action Conference (CPAC) in Washington, Trump stated that he was determined to "get the money back, or secured" for the billions spent on supporting Ukraine since the Russian invasion began in 2022.
"I want them to give us something for all of the money that we put up," Trump said.
"We're asking for rare earth and oil, anything we can get."
Trump's demand is based on an inflated claim that U.S. aid to Ukraine amounts to $500 billion. The Kiel Institute, a German research body tracking aid to Ukraine, places the figure closer to $120 billion.
Zelensky dismissed the notion that Ukraine owed the U.S. such a sum, stating, "We do not recognize the debt."
The Ukrainian president also revealed that the draft agreement proposed by Washington included a clause requiring Ukraine to repay the U.S. double the amount of any future assistance it received.
"For every dollar of aid, Ukraine must return $2," Zelensky said. "Simply put, it's a 100 percent loan. I have to repay the principal plus another 100 percent on top."
A Deal Without Security Guarantees
Negotiations between Ukraine and the Trump administration have been ongoing for weeks, but the proposed agreement has been met with resistance from Kyiv. One of the key sticking points is the lack of security guarantees in the deal, which Ukraine insists are necessary to prevent future Russian aggression.
Ukraine has argued that it cannot trade its natural resources without assurances that it will receive long-term military and political support.
"There are no American obligations in the agreement regarding guarantees or investments," Zelensky said.
"Everything about them is very vague, and they want to extract $500 billion from us."
Despite these concerns, reports suggest the White House is ramping up pressure on Kyiv to sign the deal. Trump's special envoy, Keith Kellogg, has described securing an agreement as "critical."
Zelensky Ready to Step Down for Peace or NATO Membership
Amid mounting pressure from Trump, Zelensky indicated that he would be willing to step down if it would help end the war or ensure Ukraine's entry into NATO.
"If to achieve peace, you really need me to give up my post, I'm ready," Zelensky said. "I can trade it for NATO."
His remarks follow accusations from Trump that Zelensky is a "dictator without elections." Ukraine postponed its presidential election, initially scheduled for 2024, due to the ongoing war, with opposition figures supporting the decision.
Trump-Putin Meeting on the Horizon?
The diplomatic tensions come as reports emerge that preparations are underway for a potential meeting between Trump and Russian President Vladimir Putin. Moscow's Deputy Foreign Minister said over the weekend that talks between the two leaders could take place soon, fueling concerns in Kyiv and across Europe that the U.S. may negotiate with Russia without Ukraine's involvement.
Zelensky warned that any peace deal without Ukraine's participation would be unacceptable. "Can you look victorious if you have a ceasefire and another war starts in a year?" he asked.
Ukraine Seeks Alternative Agreement
Despite rejecting Trump's demands, Ukraine has expressed openness to a revised deal that would focus on future resource payments in exchange for U.S. security guarantees. Negotiations are expected to continue in the coming weeks, with Kyiv pushing for terms that would protect Ukraine's sovereignty while allowing for economic cooperation with the U.S.
For now, Zelensky remains defiant, insisting that Ukraine "cannot be forced into a deal that weakens our future."
