U.S. Treasury Secretary Scott Bessent presented an economic partnership agreement to President Volodymyr Zelenskyy during his visit to Kyiv, which he said would be necessary for continued support from President Donald Trump’s administration.
“President Trump has a plan to end this war and we would like an economic cooperation agreement,” Bessent said. “And in exchange for this agreement, the U.S. will continue to provide material support for the Ukraine, for the people.”
Zelenskyy described the agreement as “a concrete step” and added economic ties should be part of the security guarantees Ukraine seeks against Russia. “I am sure we’ll make the deal,” he said.
The Ukrainian side will quickly examine the agreement ahead of the Munich Security Conference, Zelenskyy said alongside Bessent, who arrived in Ukraine’s capital Wednesday, the first visit by a senior Trump official. The conference in Munich starts Friday, with U.S. Vice President JD Vance and Secretary of State Marco Rubio expected to attend.
The talks in Kyiv were expected to include what Zelenskyy described as “Ukraine’s potential in natural resources.” The Trump administration has signaled recently that it expects Kyiv to grant access to those resources, including critical minerals, as well as pledge to purchase U.S. energy exports, in return for its military and economic support against Russia, which invaded in February 2022.
Trump has decried the billions of dollars in aid provided to Ukraine under his predecessor Joe Biden, saying the war should be ended rather than sustained with U.S. support and funds.
Trump, speaking in the White House later on Wednesday, said Bessent was “going there to get a document done where we’re going to be assured that we’re going to, in some form, get this money back.”
Trump and Russian President Vladimir Putin also on Wednesday agreed in a phone call to meet as part of negotiations to end the war. Earlier in the day, Defense Secretary Pete Hegseth said that Ukraine’s membership in NATO, which many members had expected at some point in the future, was unrealistic. Putin has consistently said Ukraine’s membership in NATO would be unacceptable.
Russia attacked Kyiv with ballistic missiles several hours before Bessent arrived, killing one and injuring four people.