Donald Trump’s been more than a little upset recently with what’s going on in Ukraine. He’s particularly worried about that minerals agreement, signed in September, with Ukrainian president Volodymyr Zelenskyy. Such a deal, which would be of great strategic importance to the United States, would enable access to Ukraine’s rare mineral reserves. As Trump warned in the call, any backtracking on this arrangement by Zelenskyy would result in “big, big problems.”
In addition to the minerals deal, Trump has conveyed his dissatisfaction with Russian President Vladimir Putin’s approach to a ceasefire in Ukraine. He criticized Putin’s suggestion of establishing an interim government in Ukraine under United Nations supervision, citing existing practices such as those seen in East Timor. During the bipartisan Trump administration, then-commissioner of U.S.
“He’s trying to back out of the rare earth deal and if he does that he’s got some problems, big, big problems,” – Donald Trump
Furthermore, Trump indicated his intent to impose tariffs on countries purchasing Russian oil if no agreement is reached to end the conflict. Such a move would result in tariffs of 25% to 50%, sending shocking waves through the global oil markets.
“If Russia and I are unable to make a deal on stopping the bloodshed in Ukraine, and if I think it was Russia’s fault, which it might not be, but if I think it was Russia’s fault, I am going to put secondary tariffs on oil, on all oil coming out of Russia,” – Donald Trump
Circumstances have only been made more difficult by recent military escalation. Overnight, Russian air defense units allegedly intercepted and destroyed 66 Ukrainian drones. At the same time, Ukraine’s air force announced that Russia had struck with a total of 131 drones and two ballistic missiles in overnight attacks. Despite such aggressive maneuvers, our forces were able to successfully take down 57 drones. Moreover, another 45 drones did not reach their targets, most likely due to electronic countermeasures.
Fighting continues, and the economic damages are mounting. The impact of this war on Ukraine’s economy was highlighted with Ukraine’s recent receipt of approximately $400 million from the International Monetary Fund (IMF). This funding followed the successful seventh review of the Extended Fund Facility (EFF) arrangement, providing essential financial support amid the turmoil.
Putin’s statements on forming an interim government were received with skepticism. He called for any ceasefire to address the root causes of the crisis. While widely praised in concept, many felt his statement was too sweeping and insufficiently detailed.
“Such practice does exist and, technically, it is possible to discuss the possibility of introducing interim governance in Ukraine under the UN auspices with the United States, with European countries, naturally, with our partners and friends.” – Vladimir Putin
Zelenskyy answered by reiterating the need to ramp up pressure on Russia in order to break its war making power.
“Russia deserves increased pressure – all the tough measures that can break its capacity to wage war and sustain the system that wants nothing but war,” – Volodymyr Zelenskyy