MICHEL MARTIN, HOST:
Ukraine's president, Volodymyr Zelenskyy, is here in Washington, D.C. today for his first meeting with President Trump since he became president for the second time.
A MARTÍNEZ, HOST:
The two leaders are supposed to sign a preliminary deal to give the U.S. access to Ukraine's natural resources. However, it's not clear that the deal will offer Ukraine future security guarantees, which the country says it needs to protect itself from Russia.
MARTIN: Joining us now to talk about all this is NPR's Joanna Kakissis. She's in Kyiv, Ukraine's capital. Good morning, Joanna.
JOANNA KAKISSIS, BYLINE: Good morning, Michel.
MARTIN: So tell us about this critical raw materials agreement. What does it include, and what does Ukraine get out of it?
KAKISSIS: Well, Michel, the idea of swapping revenue from Ukraine's natural resources for continued U.S. support came from Zelenskyy himself last year as part of his proposal to end the war. Zelenskyy says the deal on the table today is a framework rather than a final agreement. And it says the U.S. and Ukraine will jointly develop deposits of rare earth metals and critical minerals - these are used in high-tech devices - and also develop deposits of oil and gas. I spoke about all this with Yuriy Sak. He is an adviser to Ukraine's minister of strategic industries.
YURIY SAK: We will need the U.S. to continue to be our strategic partner. So we need to rebuild our country after we end the war, and this agreement is going to work towards that goal.
KAKISSIS: Now, this agreement establishes a fund to help Ukraine recover, should the war end. The fund would be managed by both countries, with Ukraine committing 50% of revenues earned from state-owned natural resources.
MARTIN: Now, this raw materials agreement has gone through many drafts, and you've told us that Zelenskyy rejected early versions. Why is that?
KAKISSIS: Well, Zelenskyy said earlier agreements would have used revenue to pay back aid Ukraine has already received from the U.S. In the current version, the terms are more favorable to Ukraine, and the revenue appears to go to future U.S. investment in Ukraine. Zelenskyy says he's pushing for security guarantees to be added to any final agreement.
MARTIN: I think - Joanna, now, I think people will remember that Trump called Zelenskyy a dictator last week. And now Trump has moved to warm relations with Russia, which invaded Ukraine. This is very difficult for Zelenskyy. So are Ukrainians expecting anything positive from this meeting?
KAKISSIS: Well, Michel, Ukrainians I spoke to say it is a victory that this meeting is happening at all. Serhii Fursa - he's a financial consultant who is deputy director of Dragon Capital in Kyiv - he's been following this deal very closely. And he said today's meeting gives Zelenskyy a chance to talk to Trump in person before Trump meets Russian President Vladimir Putin.
SERHII FURSA: So I do not think that President Zelenskyy will enjoy this trip, personally, which - he just have to do it.
KAKISSIS: And he said this is also a crucial opportunity for Zelenskyy to reset Ukraine's relationship with the Trump administration.
MARTIN: The stakes seem really high for this meeting, Joanna. Are Ukrainians worried it could go poorly?
KAKISSIS: Yes. I heard that fear from many Ukrainians, including Anna Kolesnyk. She's a communications manager in Kyiv.
ANNA KOLESNYK: God help us not to lose a lot - meaning our territories, our raw materials or our mines - and to gain as much benefits from this meeting.
KAKISSIS: Because, she says, these days, it feels like the U.S., Ukraine's most important ally, seems to be threatening to take things away - its friendship, its support. And that leaves Ukraine in a vulnerable position.
MARTIN: That is NPR's Joanna Kakissis in Kyiv. Joanna, thank you.
KAKISSIS: You're welcome. Transcript provided by NPR, Copyright NPR.
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