U.S. locks security aid at Polish border; economic ties grow

In an interview with CNBC, U.S. Treasury Secretary Scott Bessent ruled out the possibility of providing Ukraine with U.S. security guarantees. He emphasized that NATO and the U.S. military start at the Polish border. He noted that Ukraine should accept that security guarantees will come from Europe.

During the conversation, Bessent criticized Ukrainian President Volodymyr Zelensky for his relentless efforts to secure American support.

Bessent noted that the speaker appeared stuck in a repetitive cycle, repeatedly emphasizing the phrase "security guarantee." He also mentioned that European leaders support the initiative to deploy European troops to Ukraine without U.S. involvement.

Bessent also referred to the agreement on partnership in exploiting Ukraine's natural resources, emphasizing that it is not a "predatory" move.

The U.S. Treasury Secretary clarified that this agreement is not comparable to predatory Chinese deals. She emphasized that it does not grant any rights to the minerals or similar concessions, describing it purely as an economic development initiative.

He emphasized the importance of supporting Ukraine in achieving economic success, pointing out that when the Iron Curtain fell, Poland and Ukraine had economies of similar size. However, Poland's economy has since expanded to be three and a half to four times larger. He also noted that Ukrainian oligarchs often control significant wealth and are unlikely to support this agreement. The primary goal, he stressed, is to ensure that financial benefits reach the Ukrainian people.

The initial versions of the agreement envisioned creating a fund controlled by the U.S., which would receive 50% of the revenues from Ukrainian natural resources, until reaching $500 billion. Later reports indicate that the fund will be jointly managed, with resources designated for rebuilding and developing Ukraine's economy.