Summarize this content to 2000 words in 6 paragraphs Amid the ongoing Russia-Ukraine war, U.S. Treasury Secretary Scott Bessent said he believes that President Donald Trump’s Ukraine deal will prove effective due to “economic security guarantees” instead of military assurances.Newsweek has reached out to the Ukrainian foreign ministry for comment by email on Sunday morning.Why It MattersMonday will mark the three-year anniversary of when Russian President Vladimir Putin invaded Ukraine. Negotiations over a peace deal between the two countries have gotten under way and already hit a number of speed bumps, chiefly that Trump and Putin have seemingly excluded Ukrainian President Volodymyr Zelensky.Trump has openly questioned Zelensky’s leadership, claiming the Ukrainian is a “dictator without elections” and that he has lost the support of his people. Trump said he didn’t see it as “important” for the Ukrainian leader to be present at negotiations.U.S. Defense Secretary Pete Hegseth also made clear that Ukraine should give up hopes of regaining much of its lost territory, saying that “returning to Ukraine’s pre-2014 borders is an unrealistic objective.”Attention in the past week has also shifted to details about Ukraine’s rare earth minerals, which Bessent presented to Ukraine during his visit to Kyiv. The deal would give American companies 50 percent ownership of the deposits, which the U.S. has framed as a way for Kyiv to pay it back for past and future military aid. Zelensky, however, outright rejected the deal.
Ukraine’s President Volodymyr Zelensky and Secretary of Treasury Scott Bessent give a press conference during their meeting in Kyiv on February 12 amid the Russian invasion of Ukraine.
Ukraine’s President Volodymyr Zelensky and Secretary of Treasury Scott Bessent give a press conference during their meeting in Kyiv on February 12 amid the Russian invasion of Ukraine.
Tetiana Dzhafarova/AFP via Getty Images
What To KnowBessent appeared on Fox News’ Sunday Morning Futures with Maria Bartiromo to discuss the deal that Trump is trying to finalize, arguing that placing an emphasis on economic guarantees for Ukraine will provide greater long-term support and security than military guarantees.”It does not include a military guarantee, but what it does include is an implicit guarantee that if the United States of America is heavily invested in the economic future—I call it an economic security guarantee—the more assets that U.S. companies have on the ground, the bigger interest that the U.S. has in the future of Ukrainian economy doing well, the more security it creates for the Ukrainian people, and the higher the return for the U.S. taxpayer,” Bessent said.The secretary called the deal a “win-win” and lamented that “daylight” has opened between the U.S. and Ukraine about the deal.Zelensky met with U.S. officials, including Vice President JD Vance and Secretary of State Marco Rubio, but has insisted that any deal made without Ukraine’s input and inclusion in discussions is a non-starter.”The idea here of my trip to Ukraine and then the meeting in Munich—we want to intertwine the U.S. and Ukrainian economies for the benefit of both,” Bessent explained on Sunday. “Unfortunately, President Zelensky seems to put a bit of daylight between us, but I am sure in the long run, or in the short run, there is no daylight. The deal will be signed, and this will give President Trump a lever, and it will be a strong signal to Russian leadership that the U.S. is in a serious partnership with Ukrainian people.”
What People Are SayingU.S. Treasury Secretary Scott Bessent wrote on X, formerly Twitter, on Sunday: “President Trump’s proposed economic partnership with Ukraine is a win-win. It is both a critical step towards peace and security for the Ukrainian people, and will be a major asset for the American taxpayers.”Kremlin spokesman Dmitry Peskov earlier this month told Russian state-controlled TV, per Reuters, “One way or another, of course, Ukraine will participate in the negotiations,” adding, “There will be a bilateral Russian-American track of this dialogue, and a track that will be related to Ukraine’s involvement.”Ukrainian President Volodymyr Zelensky earlier this month wrote on X: “The Russian Federation does not want to end the war and continues to escalate global tensions. That is why U.S. military support is crucial for Ukraine. Only in this way can we achieve a just and lasting peace.”He also said of the rare mineral deposits: “We have to talk about it as investments; and it needs to be formulated correctly, and we can think about how to divide profits. But all of this would be tied to security guarantees.”
What Happens Next?Negotiations continue between the U.S. and Russia, with expectations of a revised agreement sooner than later. Zelensky has instructed his team to draft a counterproposal that includes explicit security guarantees, while still allowing the U.S. access to its mineral deposits.Ukraine is also preparing to push back against the U.S. effort to dominate its mineral sector.
