Zelensky: Frozen Russian assets should be used for Ukraine's reconstruction.

The President of Ukraine, Volodymyr Zelensky, proposed utilizing a portion of the funds frozen on Russian assets to support the establishment of a future investment fund. According to him, this fund should be part of an agreement that involves transferring a share of Ukrainian mineral resources to Washington.

During a press conference on Sunday, Zelensky emphasized that the terms of cooperation must be equitable and exclude mechanisms that would make Ukraine a debtor for past obligations.

“We are ready to attract new investments and act as full-fledged partners,” he stated.

Zelensky clarified that under the initial terms, the fund was intended to be completely under U.S. control. However, in his view, a scenario where both parties participate on equal terms—such as a 50-50 split—could be feasible. In such a case, the U.S. could contribute its financial assistance as an investment, while Ukraine could direct revenues from enterprises and frozen Russian assets into the fund.

“These assets are our money, not shared with partners, but distinctly ours,” Zelensky emphasized.

The President also noted that using these funds would allow for a swift capitalization of the fund. For instance, if Ukraine secures $50 billion from frozen Russian assets and the U.S. provides a similar amount in assistance, the total capital of the fund would reach $100 billion. These funds could be allocated towards the development of the extraction industry and the recovery of the Ukrainian economy.

Additionally, Zelensky proposed an alternative financing option, where the U.S. could supply Ukraine with arms for the protection of territories and natural resources.

“This is also an investment. We need another 20 Patriot systems, which cost about $30-35 billion. If the U.S. provides them, we will count this as a contribution to the fund and will add an equivalent amount,” he explained.

Thus, the total volume of the fund could reach $70 billion. According to Zelensky, the integrity and transparency of the agreement should be thoroughly discussed during negotiations with the U.S., which, in his opinion, should occur before a possible meeting between former President Donald Trump and Vladimir Putin.

It is worth noting that U.S. President Donald Trump has expressed interest in obtaining rare earth metals from Ukraine in exchange for continued support in the war against Russia. The strategic importance of these resources was also mentioned in one of the points of President Ukraine Volodymyr Zelensky's "victory plan."