Trump says he’s planning major economic partnerships with Putin’s Russia

President Donald Trump announced on Monday that he is negotiating economic agreements with Vladimir Putin, confirming that discussions are already underway and that talks are “proceeding very well.”

Trump shared his plans in a Truth Social post, saying that alongside his push to end the war in Ukraine, he is in serious discussions with the Russian leader about major economic development transactions between the United States and Russia.

Trump’s statement followed a meeting at the White House with French President Emmanuel Macron, where the two discussed the Russia-Ukraine war, global trade, and an upcoming minerals deal between the US and Ukraine. The announcement also came as European leaders gathered in Kyiv to celebrate the third anniversary of Russia’s invasion of Ukraine.

Trump negotiates US-Ukraine minerals deal

Trump confirmed that his administration is on the verge of finalizing a critical minerals and rare-earths deal with Ukraine, an agreement he described as an “economic partnership” designed to ensure that the American people recoup the tens of billions of dollars sent to Ukraine.

In his statement, Trump said, “This deal, which is an ‘Economic Partnership,’ will ensure the American people recoup the Tens of Billions of Dollars and Military Equipment sent to Ukraine, while also helping Ukraine’s economy grow as this Brutal and Savage War comes to an end.”

According to Trump’s economic team, the deal would grant the US direct access to Ukraine’s mineral reserves, which are crucial for technology, defense, and industrial production. Treasury Secretary Scott Bessent said in an interview on Fox News that the agreement is a “strategic investment” that would also strengthen America’s long-term economic interests in the region.

However, Ukraine is pushing back on the deal, arguing that the financial terms are not in its favor. Ukrainian officials, including President Volodymyr Zelensky, have expressed concern over “ruinous financial contributions” being demanded in exchange for US access to the country’s rare-earth deposits.

Zelensky confirmed in a videoconference with G7 leaders, including Trump, that negotiations are still ongoing. “For our people, for life overall, it’s incredibly important that American help and support remain,” he said. He also noted that Ukraine’s team is still working on the economic agreement with the US and hopes to finalize it in Washington soon.

US sides with Russia and China in UN vote

Hours after Trump’s Truth Social post, the United Nations Security Council voted on a US-backed resolution that did not blame Russia for the war in Ukraine.

Unlike the General Assembly resolution, which was pushed by Ukraine and explicitly held Russia responsible for the invasion, Trump’s administration blocked the measure. The US was one of only four countries—alongside Russia, Belarus, and North Korea—that voted against it.

Instead, the US introduced its own resolution, which called for an immediate end to the war but did not assign blame to Moscow. The measure passed with 10 votes in favor, but five European countries, including France and the U.K., abstained.

The decision to vote alongside Russia and China brought criticism from both European allies and members of Congress. Republican Senator John Curtis called the move “a dramatic shift from American ideals of freedom and democracy.”

“We all want an end to the war, but it must be achieved on terms that ensure Ukraine’s sovereignty and security and that deter Putin from pursuing further territorial ambitions,” Curtis said in a statement on X (formerly Twitter).

Trump and Putin discuss potential trade deals

Beyond Ukraine, Trump confirmed that he is actively discussing economic agreements with Putin, which could restart US-Russia trade after years of sanctions and restrictions.

During a press briefing at the White House, Trump told reporters, “They have very valuable things that we could use, and we have things that they could use.” He declined to offer specifics but suggested that a potential trade agreement could be similar to the Ukraine minerals deal, which grants the US direct access to rare-earth resources.

Trump’s negotiations come after years of economic sanctions imposed on Russia, particularly under the Biden administration, which took an aggressive stance against Putin following the invasion of Ukraine in 2022. The Biden White House led efforts to cripple Russia’s economy, targeting its energy, banking, and defense sectors.

However, Trump appears to be reversing course, signaling a willingness to re-engage economically with Russia. Critics argue that this could undermine previous US efforts to weaken Moscow’s influence, while supporters say it could be a pragmatic move to bring Russia into a new economic framework.

Macron demands security guarantees for Ukraine

During the Oval Office meeting, Macron pressed Trump for stronger security guarantees for Ukraine, suggesting that any peace agreement should include a formal commitment to defend Ukraine in the future.

Macron said, “Europeans are ready to engage to provide for these security guarantees—and now there’s a clear American message that the US, as an ally, is ready to provide that solidarity for that approach.”

However, a White House official later clarified that the agreement does not include any commitment to send US troops or provide future military aid to Ukraine.

Macron also discussed the possibility of European peacekeepers being deployed in Ukraine, an idea that Trump said he had brought up with Putin. According to Trump, Putin agreed to consider the proposal, though no formal commitment has been made.

Trump has suggested that a peace agreement in Ukraine could be reached within weeks, but tensions remain high between Washington and Kyiv over the economic terms of the minerals deal.

Meanwhile, Trump’s economic talks with Putin could lead to a broader reset in US-Russia relations, depending on whether Congress intervenes or imposes new restrictions on trade with Moscow.