At a press conference in Kyiv, Ukrainian President Volodymyr Zelenskyy stated that he was not prepared to recognize US grants as debt or repay the $500 billion proposed by the United States under a new version of the minerals deal.
Zelenskyy confirmed that, as part of the deal, the US had demanded a 100% return on the aid provided, which, according to him, amounts to $500 billion.
“This would be paid by ten generations of Ukrainians. I am not signing this,” he emphasized.
The President clarified that it had become evident the proposal was not an investment but a debt. “If this money goes into a fund and nothing comes from abroad while we repay the debt… We don’t recognize a $500 billion debt. We had $100 billion, but I don’t recognize that as debt either and won’t formalize it. We agreed with Biden that it was a grant, and a grant is not a debt,” Zelenskyy stressed.
He further noted that the war had cost Ukraine $320 billion: $120 billion was covered by Ukrainians themselves, $100 billion by Europe and partners, and another $100 billion by the United States. “We must not repay this as debt,” the President reiterated.
Zelenskyy also expressed a desire to conduct negotiations “at our own table” with the participation of Europe, rather than limiting talks to the United States and Russia. He underlined that mediation would not be effective in this case.
“I want clarity about the situation so that Ukraine stands strong at the negotiating table. I’d like to discuss the post-war contingent with him (Trump),” he added.
Additionally, Zelenskyy stated that, in exchange for an economic agreement, the US should “stop Putin” and ensure “100% protection of Ukraine’s skies.”
The President also mentioned that he was willing to leave office if it would bring peace. “I am ready to reconsider my stance on NATO. I don’t intend to stay in power for decades,” Zelenskyy concluded.