Volodymyr Zelensky furiously erupted at a senior member of Donald Trump‘s administration and left him trembling with fear, it was claimed today, as the US and Ukraine inch closer to a deal to end the Ukraine war.
Earlier this month, Trump dispatched his newly minted Treasury Secretary Scott Bessent to Kyiv to present the Ukrainian leader with a deal exchanging some of Ukraine’s vast mineral wealth for security guarantees against future Russian attacks.
But upon reviewing the contract in detail, Zelensky and his aides discovered that there were no real security guarantees to be found.
Instead, the contract was reportedly more exploitative than the conditions imposed on Germany after World War I, expecting Ukraine to relinquish huge quantities of oil, gas and mineral resources as a payment for US aid already provided.
Recalling the president’s fury, Ukrainian lawmakers claimed Zelensky’s bellows reverberated through the halls of Kyiv’s presidential palace as he laid into Bessent for expecting him to ‘sell his country’ to Washington.
‘He was very angry,’ a person present told the Financial Times, explaining how the gilded doors of Zelensky’s presidential office did nothing to stop those outside from hearing every word of the verbal beatdown.
Bessent was visibly shaken, his voice trembling as he delivered a stumbling statement to reporters moments after enduring the wrath of the Ukrainian President.
It comes as Russia’s Foreign Minister Sergei Lavrov today declared Moscow would ‘stop hostilities only when negotiations produce a firm and sustainable result that suits the Russian Federation’.
Meanwhile, Kremlin Press Secretary Dmitry Peskov accused Europe and the UK of prolonging the fighting in response to a fresh package of sanctions levelled by Brussels.
A dozen leaders from Europe and Canada are in Ukraine’s capital to mark the third anniversary of Russia’s invasion today, including European Commission President Ursula von der Leyen and Canadian Prime Minister Justin Trudeau.
Donald Trump is notably absent.
Bessent was visibly shaken, his voice trembling as he delivered a stumbling statement to reporters moments after enduring the wrath of the Ukrainian President
Ukraine’s President Volodymyr Zelensky speaks during a press conference following the Support Ukraine summit in Kyiv, Ukraine, 24 February 2025
World leaders and dignitaries are in Kyiv today to commemorate the three-year anniversary of war
A residential complex stands amid the harsh winter landscape in Siversk, Ukraine as Russia-Ukraine war continues on February 20, 2025
Trump has been highly critical of Zelensky since taking office
Prior to his presidential telling-off earlier this month, Bessent had said that an agreement to an ‘economic commitment’ with the US would grant Ukraine a ‘long-term security shield’ provided by Washington.
The idea was first floated by Zelensky himself as part of his ‘Victory Plan’ unveiled before Western allies and Ukraine’s parliament in October.
At that time, the Ukrainian President said Ukraine could sign an agreement with the US, EU and other unnamed allies that would allow for joint investments and use of Ukraine’s natural resources.
But according to a private draft of Bessent’s proposal seen by The Telegraph, the contract offered earlier this month would have seen the US take 50% of revenues received by Ukraine from the extraction of natural resources.
It would have also granted the US 50% of the financial value of ‘all new licenses issued to third parties’ for the future monetisation of these resources.
Such a deal would’ve been extremely difficult for Kyiv to stomach even if it had come with concrete and detailed promises of long-term security guarantees to be provided by Washington.
But it appears Trump expected to receive ‘$500 billion’ worth of Ukrainian natural resources as repayment for military, financial and humanitarian aid provided to Kyiv since the start of Russia’s full-scale invasion.
This figure appears to have been plucked from the ether, as the US’ own congressional reporting service shows the sum total of US aid for Ukraine thus far totals $174.2 billion.
Zelensky later claimed that only around $75 billion of this was military aid.
Since the Ukrainian President refused to sign the highly unfavourable deal, his relationship with Trump has taken a nosedive.
Last week, Trump labelled his Ukrainian counterpart ‘a dictator without elections’ as part of a shocking rant posted on his Truth Social platform.
That accusation came just hours after Zelensky said the leader of the free world had fallen prey to a Russian disinformation campaign when Trump erroneously declared his Ukrainian counterpart was ‘down at four per cent approval rating’.
‘Think of it, a modestly successful comedian, Volodymyr Zelenskyy, talked the United States of America into spending $350 Billion Dollars, to go into a War that couldn’t be won, that never had to start, but a War that he, without the US and ‘TRUMP,’ will never be able to settle,’ Trump wrote.
‘I love Ukraine, but Zelenskyy has done a terrible job, his Country is shattered, and MILLIONS have unnecessarily died – And so it continues…’ he posted, going onto make a series of claims that have since been proven completely untrue.
In the meantime, US Secretary of State Marco Rubio met a Russian delegation to begin preliminary ceasefire talks in Saudi Arabia – notably in the absence of any Ukrainian representatives. US and Russian officials are due to meet in Riyadh again tomorrow.
This morning, Ukraine’s Deputy Prime Minister for European and Euro-Atlantic Integration Olha Stefanishyna claimed her country was on the cusp of signing a new minerals-for-security agreement with Washington.
Ukrainian President Volodymyr Zelensky (R) speaks to the press during his meeting with US Treasury Secretary Scott Bessent
Rescuers of the State Emergency Service work to extinguish a fire in a building after a drone strike in Kharkiv, on January 28, 2025, amid the Russian invasion in Ukraine
US President Donald Trump speaks during signing of executive orders at his Mar-a-Lago resort in Palm Beach, Florida, on February 18, 2025
‘Ukrainian and US teams are in the final stages of negotiations regarding the minerals agreement. The negotiations have been very constructive, with nearly all key details finalized,’ she said.
‘We are committed to completing this swiftly to proceed with its signature. We hope both US and UA leaders might sign and endorse it in Washington the soonest to showcase our commitment for decades to come.’
She gave no further details, but it is expected any minerals-for-security deal that Zelensky is willing to sign must contain significant guarantees of protection from future Russian aggression.
Addressing officials in Kyiv on the third anniversary of Russia‘s full-scale invasion this morning, Zelensky confirmed the initial version of the deal has been scrapped.
‘The question of $500 billion is no longer there,’ he said.
He went on to emphasise that treating aid as a debt could set a dangerous precedent, potentially obligating Ukraine to repay all its allies.
‘We do not recognise the debt,’ Zelensky affirmed. ‘It will not be in the final format of the agreement.
‘I know that we received £100 million. It’s a fact. I will not recognise $500 billion debt to the US.’
The Ukrainian President also confirmed he would be willing to resign his post if it meant that his country could earn accession to NATO.
‘I am focused on security in Ukraine here and today – not staying in power for decades,’ he declared.
Ukrainian lawmakers have long voiced a desire to enter the transatlantic security bloc as the solution to preventing future attacks from Russia.
In July, a NATO summit declaration said Ukraine was on an ‘irreversible’ path to membership in the alliance.
But US Defense Secretary Pete Hegseth last month said NATO membership for Ukraine was unrealistic and suggested Kyiv should abandon hopes of winning all its territory back from Russia.
Ukrainian firefighters work to extinguish a fire amidst the rubble of a building following Russian shelling in the city of Kostiantynivka, Ukraine
Russian President Vladimir Putin
On the third anniversary of the unprovoked Russian invasion, Sir Keir said the UK would go after Russia’s so-called ‘shadow fleet’ as well as companies in China and elsewhere providing Moscow with military components.
The Trump administration’s evident opposition to a Ukrainian NATO membership bid will satisfy the Kremlin.
‘Ukraine’s absolute non-accession to NATO is also a must. There must be a clear, iron-solid agreement on this,’ Russian Foreign Minister Lavrov said today.
‘At the meeting in Riyadh with our American colleagues, we welcomed the fact that President Trump has publicly and repeatedly called the line on pulling Ukraine into NATO a mistake.’
But Moscow is likely to want to make a ceasefire deal in short order, as a continuance of war in Ukraine is set to wreak havoc on the Russian economy.
According to Oleg Vyugin, former deputy chairman of Russia’s central bank, Russia can either stop inflating military spending as it presses to gain territory in Ukraine, or maintain it and pay the price with years of slow growth, high inflation and falling living standards, all of which carry political risks.
Though government spending usually stimulates growth, non-regenerative spending on missiles at the expense of civilian sectors has caused overheating to the extent that interest rates at 21% are slowing corporate investment and inflation cannot be tamed.
‘For economic reasons, Russia is interested in negotiating a diplomatic end to the conflict,’ Vyugin said.
‘(This) will avoid further increasing the redistribution of limited resources for unproductive purposes. It’s the only way to avoid stagflation.’
Moscow’s economic concerns were revealed this morning as European Commission President Ursula von der Leyen said sanctions relief to Russia could only begin once Moscow has demonstrated it is committed to achieving a lasting peace.
‘These sanctions are part of our approach that we want peace through strength,’ she said in Kyiv today as the EU rolled out yet another sanctions package against Moscow.
‘It’s very clear that unless Russia demonstrates by facts the true willingness to achieve a lasting and just peace agreement, we will increase punitive sanctions against Russia.’
Britain has imposed sanctions on 107 businesses and individuals in what it calls its biggest package targeting Russia’s war machine since the early days of the conflict.
The measures target Russia’s military supply chains, including companies in several countries – notably China – that Britain says are supplying machine tools, electronics and dual-use goods for Russia’s military.
Fourteen wealthy Russian businesspeople get asset freezes and travel bans, including billionaire Roman Trotsenko.
The UK is seeking to squeeze the Kremlin’s finances by sanctioning a bank in Kyrgyzstan and 40 ships in the ‘shadow fleet’ of vessels carrying Russian oil around the world.
The sanctions also target North Korean Defence Minister No Kwang Chol and senior military officers in the country, which has sent thousands of troops to fight alongside Russia against Ukraine.
