A long-negotiated U.S.-Ukraine resources deal collapsed dramatically in the Oval Office on February 28 after an intense confrontation between Ukrainian President Volodymyr Zelensky, U.S. President Donald Trump, and Vice President JD Vance. The meeting, originally meant to finalize a major agreement on Ukraine’s critical minerals, oil, gas, and infrastructure, ended with Zelensky being escorted out of the White House without signing the deal.
The agreement, which had gone through weeks of revisions, was set to grant the U.S. significant access to Ukraine’s resources in exchange for economic cooperation—but without security guarantees against Russian aggression, a major sticking point for Kyiv. While Trump’s administration had recently softened some of its demands, the talks fell apart after Trump and Vance berated Zelensky during a tense press conference, publicly calling him a “dictator” and accusing him of being unwilling to compromise.
Despite the public fallout, Ukrainian business leaders and economists believe the deal could still be salvaged. Hennadiy Chyzhykov, president of the Ukrainian Chamber of Commerce, remains optimistic, stating that while political disputes create uncertainty, “strategic agreements like this are rarely abandoned overnight.” He emphasized that Ukraine’s vast resource potential remains attractive to investors and that negotiations could continue with a revised framework involving European and private sector stakeholders.
However, critics in Ukraine and abroad have accused the U.S. of pushing a colonial-style deal. German Chancellor Olaf Scholz condemned Trump’s approach as “selfish”, while Zelensky insisted he would not surrender Ukraine’s resources without security assurances. The February 25 version of the deal had promised a more equal economic partnership, giving hope to many in Ukraine that it could provide much-needed capital. That hope was shattered in Washington.
Former Ukrainian Prime Minister Arseniy Yatsenyuk warned that the only winner in this dispute is Vladimir Putin and urged both sides to finalize the deal quickly to maintain economic and military cooperation. He suggested that Ukraine, the EU, and the UK should define and publicly declare their red lines to pressure Washington into securing better terms.
Business leaders remain eager for U.S. investment, with Igor Liski, owner of EFI Group, arguing that the deal is crucial for Ukraine’s post-war economy. He compared Ukraine’s potential to South Korea, Japan, and Singapore, stating that American investment could transform the country if a security agreement is eventually included.
Despite the heated exchange in Washington, Ukraine has signaled it is still open to renegotiation, and many believe a second round of talks is inevitable once tempers cool. However, without a clear U.S. commitment to Ukraine’s security, skepticism remains over whether a fair and lasting agreement can be reached.
