Treasury Secretary Scott Bessent stated on Sunday that the possibility of an economic deal with Ukraine is currently off the table. This announcement follows an eventful press conference in the Oval Office that included President Donald Trump, Vice President JD Vance, and Ukrainian President Volodymyr Zelenskyy. Bessent noted that the talks had taken an unexpected turn, highlighting the complexities of international negotiations.
During the press conference, Bessent explained that President Trump's vision for the economic arrangement aimed to strengthen ties between the American and Ukrainian people. “The goal was to demonstrate to the Russian leadership that there was no daylight between us,” he told Margaret Brennan on CBS’ “Face the Nation.” However, he indicated that President Zelenskyy attempted to revisit the terms of the deal in front of a global audience, complicating the discussions.
Bessent has played a critical role in the White House's efforts to forge an economic agreement with Ukraine. In February, he personally traveled to Kyiv to present the administration’s initial draft of the agreement to President Zelenskyy. He emphasized that this economic commitment would serve as a “long-term security shield for all Ukrainians,” promising stability amid ongoing conflict.
Despite the recent setbacks, President Zelenskyy expressed his willingness to move forward. On Saturday, he took to social media platform X to reaffirm his readiness to sign the minerals agreement, which he described as a vital first step toward achieving security guarantees. “A ceasefire without security guarantees is dangerous for Ukraine,” he cautioned, emphasizing the need for stronger assurances from the United States. “We’ve been fighting for three years, and the Ukrainian people need to know that America is on our side,” he added.
Following the tumultuous events of Friday, Secretary Bessent acknowledged the uncertain status of the economic deal. “We have to see if President Zelenskyy wants to proceed,” he said, reflecting on the implications of an agreement that may become irrelevant if hostilities continue. Bessent reiterated President Trump's desire for a peace deal, underscoring the administration's commitment to finding a resolution.
On ABC’s “This Week,” Senator Amy Klobuchar (D-Minn.) shared her observations from her meeting with President Zelenskyy prior to his visit to the White House. She noted that he was enthusiastic about signing the deal, despite criticisms that likened the agreement to a “protection racket.” Klobuchar emphasized the importance of the minerals agreement, which was a significant focus for President Trump.
When asked about potential security guarantees for Ukraine, Bessent pointed the responsibility towards Europe. “The plan is for the European Union to provide this security, not NATO,” he stated, indicating a shift in expectations regarding international commitments. Amid rising concerns about Trump's perceived closeness to Russia, various European leaders have pledged to increase defense spending. Recently, France and the United Kingdom have collaborated on a proposal to send peacekeeping troops into Ukraine once the war with Russia concludes.
British Prime Minister Keir Starmer emphasized the necessity of a U.S. backstop for establishing a credible security guarantee, further highlighting the complex dynamics at play in achieving lasting peace and security in the region.
