Ukraine’s Zelenskyy says framework economic deal with U.S. is ready but security guarantees undecided

Ukraine's President Volodymyr Zelensky speaks during a news conference at the Ukraine peace summit in Buergenstock, Switzerland on June 15, 2024. (AP Photo/Laurent Cipriani)

KYIV, Ukraine — A framework economic deal with the United States is ready, Ukrainian President Volodymyr Zelenskyy said Wednesday, but U.S. security guarantees that Kyiv views as vital for its war with Russia remain to be decided and a full agreement could hinge on talks in Washington as early as Friday.

The agreed upon framework deal is a preliminary step toward a comprehensive agreement that will be subject to ratification by Ukraine’s parliament, Zelenskyy said during a news conference in Kyiv.

Ukraine needs to know first where the United States stands on its continued military support, Zelenskyy said. He said that he expects to have a wide-ranging conversation with U.S. President Donald Trump during a visit to Washington.

“This (economic) agreement may be part of future security guarantees, but I want to understand the broader vision. What awaits Ukraine?” Zelensky said.

Since returning to office last month, Trump let Ukraine know that he wanted something in return for tens of billions of dollars in U.S. help to fend off the full-scale invasion that Russia launched just over three years ago on Feb. 24, 2022.

The agreement, seen by The Associated Press, says that the United States “supports Ukraine’s efforts to obtain security guarantees needed to establish lasting peace.”

“Participants will seek to identify any necessary steps to protect mutual investments as defined in the ... agreement,” it says.

A White House official made clear again Wednesday after Zelenskyy spoke that accepting the agreement was a necessary precondition of Trump’s invitation to Zelenskyy to meet on Friday. The official spoke on condition of anonymity to discuss the invitation.

“This agreement may either be a great success or quietly fade away,” Zelenskyy said. “And I believe success depends on our conversation with President Trump.”

“I want to coordinate with the U.S.,” Zelenskyy said.

Trump has abruptly ditched some previous Washington policies. He scrapped efforts to isolate Russian President Vladimir Putin and cast doubt on U.S. support for its European allies. That has brought momentous geopolitical shifts that could reset the war’s path this year.

Zelenskyy said the main topics that he wants to discuss with Trump are whether the U.S. plans to halt military aid and, if so, whether Ukraine would be able to purchase weapons directly from the U.S.

He also wants to know whether Ukraine can use frozen Russian assets for the purchase of weapons and investments and whether Washington plans to lift sanctions on Russia.

Ukrainian Prime Minister Denys Shmyhal confirmed that Ukraine and the U..S. have reached preliminary agreement on a broad economic deal that includes U.S. access to Ukraine’s rare earth minerals.

The preliminary agreement sets out the terms and conditions of an investment fund for the rebuilding of Ukraine, according to Shmyhal.

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By Hanna Arhirova And Justin Spike

Zeke Miller contributed to this report from Washington.