"This framework is reminiscent of the colonial arrangement that the United States imposed on Iraq, after invading the country in an illegal war of aggression in 2003 and overthrowing its government. The US central bank, the Federal Reserve, administers the money that Iraq receives from selling its crude oil.
Ukraine’s Prime Minister Denys Shmyhal stated that his country had agreed to Trump’s mineral deal, two days before Zelensky’s meeting at the White House. It is unclear if the fight changed the status of the agreement.
The other major revelation in Bessent’s FT article was that Zelensky himself had visited Trump Tower in September, just a few weeks before the presidential election. There, in Bessent’s words, “Zelenskyy proposed giving the US a stake in Ukraine’s rare earths elements and critical minerals”.
This was the biggest irony of all: Zelensky had long showed himself to be an obedient vassal of the United States, and he offered Trump some of Ukraine’s natural resources as an incentive to continue arms shipments.
Trump apparently loved the idea, but he wanted total control, not just a little. Now, Trump is demanding to be paid roughly twice the GDP of the country.
The colonial deal that the Trump administration is imposing on Ukraine recalls an infamous quote from the late US imperial strategist Henry Kissinger, who said in the context of Washington’s puppet regime in South Vietnam, “It may be dangerous to be America’s enemy, but to be America’s friend is fatal”.
The people of Ukraine have learned this lesson the hard way."
https://geopoliticaleconomy.com/2025/03/02/trump-ukraine-us-economic-colony-minerals/