It's Fine For Kash Patel But What Will Scott Bessent Tell His Grandkids?
To Trump, a negotiation with someone in a relatively weak position is always cut-throat and merciless… and like putting up a building in a corrupt environment like New York City, Baku, Chicago, Manila or South Florida. And it always seems grubby. Over the weekend Trump pulled one of those deals on Ukraine in an attempt to getting half the country’s rare earth minerals (lithium, titanium and graphite), estimated to be worth trillions of dollars. And Trump’s first bid was to get it for nothing, just in return for what the U.S. has already provided for Ukraine’s defense— with no guarantees about the future.
Reporting for the Financial Times, Christopher Miller, Felicia Schwartz and Henry Foy wrote that “Treasury Secretary Scott Bessent offered Zelenskyy the deal during a visit to Kyiv on Wednesday, which came after Trump suggested the US was owed half a trillion dollars’ worth of Ukraine’s resources in exchange for its assistance to the war-torn country. Zelenskyy wants American and European security guarantees to be tied directly to any deal on the mineral reserves.” Staying he’s like to negotiate terms, he rejected Trump’s gross offer.
Zelenskyy wants American and European security guarantees to be tied directly to any deal on the mineral reserves, according to four people familiar with the US-Ukraine negotiations.
He is also keen for other countries, including EU states, to be involved in future natural resource exploitation.
But the deal proposed by Trump and delivered by Bessent only referenced the US getting Ukrainian resources in exchange for past military assistance, and did not contain any proposals for similar future assistance, according to a person familiar with the document.
…Speaking to reporters before he and Zelenskyy discussed the deal privately for roughly an hour, Bessent described it as an “economic agreement” with Kyiv to “further intertwine our economies.”
The Trump administration would “stand to the end [with Kyiv] by increasing our economic commitment” which would “provide a long-term security shield for all Ukrainians” once Russia’s war is over, Bessent said.
“When we looked at the details there was nothing there [about future US security guarantees],” another Ukrainian official told the FT.
Asked whether it was a bad deal for Ukraine, a third Ukrainian official familiar with the proposal said it was “a Trump deal.” “This is Trump dealmaking,” the official said. “It’s tough.”
Ukraine’s main concern is the lack of connection to broader security guarantees, according to three people who have reviewed the proposal.
Ukrainian officials asked how the agreement would contribute to their country’s long-term security, but were only told it would ensure an American presence on Ukrainian soil— a vague response that left key questions unanswered, those people said.
Bessent argued that the mere presence of Americans securing the mineral deposits’ sites would be enough to deter Moscow.
…Ukraine supports the concept of exchanging Ukrainian resources for future security, the person close to Zelenskyy said. But the US proposal only referenced past assistance, not future, and a formal binding bilateral international agreement is the only way to ensure both sides’ rights and interests are protected, they added.
After their meeting Zelenskyy told reporters that he would consider the proposal but would not sign anything at that time.
“We will review this document and work swiftly to ensure our teams reach an agreement. The US is our strategic partner and we are committed to finalising the details,” Zelenskyy said at the time.
Bessent said after the meeting that Trump wanted the deal to be done.
“I believe this document is important from President Trump’s perspective in resolving this conflict [with Russia] as soon as possible,” he said. “We will provide guarantees of American assistance to the people of Ukraine. I believe this is a very strong signal to Russia about our intentions.”
Zelenskyy said he wanted to discuss the prospect of a mineral rights deal further at the Munich Security Conference, which is taking place this weekend.
… [M]any of these resources are in areas which are either under Russian occupation or are at risk of being captured by the Kremlin’s advancing forces, as they sit near the front lines in Ukraine’s east.
Yesterday, Zelenskyy said “the time has come for the creation of an ‘armed forces of Europe’ because the U.S. may no longer be counted on to support Europe. Meanwhile, German Chancellor Olaf Scholz hit back at Americans for meddling in his country’s election after JD Vance scolded European leaders over their approach to democracy and met with the leader of a German far-right party. Forceful speeches from Zelenskyy and Scholz on Day 2 of the Munich Security Conference underlined the impact of a blizzard of decisions by Trump that show a rapidly growing chasm in transatlantic ties.”
European leaders are reeling after Trump’s decision to upend years of U.S. policy by holding talks with Putin in hopes of ending the Russia-Ukraine war. Trump’s special envoy for Ukraine and Russia on Saturday all but ruled out that Europeans will be included in any Ukraine peace talks.
Ramping up his desire for a more muscular and mighty Europe, Zelenskyy said Ukraine’s three-year fight against Russia has proved that a foundation exists for the creation of a European army— an idea long discussed among some continental leaders.
This morning, Paul Sonne wrote that in 2007 Putin “shocked the audience at the annual security conference in Munich by demanding the rollback of domineering American influence and a new balance of power in Europe more suitable to Moscow. He didn’t get what he wanted— then. Nearly two decades later, during the very same conference, top officials from President Trump’s cabinet made one thing clear: Mr. Putin has found an American administration that might help him realize his dream. Comments by Defense Secretary Pete Hegseth and Vice President JD Vance raised fears among attendees that under the new administration the U.S. might align with Russia and either assail Europe or abandon it altogether. Such a shift, analysts say, would give Putin a previously unthinkable victory far more momentous for him than any objectives in Ukraine. ‘Since the dawn of the Cold War in the late 1940s, the Kremlin has dreamed of pushing America out of its role as the cornerstone of European security,’ said Andrew Weiss, vice president for studies at the Carnegie Endowment for International Peace. ‘Putin surely is savvy enough to pounce on any openings provided by the new administration.’”
European leaders have been so shaken up by Hegseth, Vance and Trump’s stumbling that Macron has called an emergency European summit in Paris tomorrow. Polish Foreign Minister Radosław Sikorski “said he was ‘very glad that President Macron has called our leaders to Paris,’ adding that he expects the European leaders to discuss ‘in a very serious fashion’ the challenges posed by Trump. Trump has a method of operating which the Russians call razvedka boyem— reconnaissance through battle: You push and you see what happens, and then you change your position... And we need to respond,’ the Polish minister said at the Munich conference.”
Trump’s maneuver isn’t just a crude shakedown— it's a betrayal of Ukraine, a gift to Putin, and a flashing warning sign for every U.S. ally. His “deal” reeks of the kind of transactional gangsterism that has defined his entire career, from bankrupt casinos to backroom deals with dictators. Trump is sending a clear message to Kyiv, Berlin, Paris and every other U.S. partner: under his leadership, alliances are up for sale, and American security commitments are worth nothing unless there's something in it for him.
You can see why European leaders in Munich reacted with alarm to Trump’s reckless scheming. Zelenskyy’s call for a European army reflects the growing realization that the U.S. under Trump, not to mention Vance, just cannot be trusted. Trump’s approach to Ukraine is no different from his approach to NATO, democracy or the rule of law: he sees everything as a racket. His open contempt for U.S. allies and his willingness to carve up Ukraine’s future for personal gain should make one thing crystal clear— with Trump’s return to power, America’s global standing won’t just erode; it will collapse. And Putin, along with every other autocrat watching, will be ready to cash in.
Comments