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Ukrainian President Volodymyr Zelenskiy on Wednesday rejected US demands for $500 billion in mineral wealth from Ukraine to repay Washington for wartime aid.

Zelenskiy said the United States had supplied nowhere near that sum so far and offered no specific security guarantees in the agreement.

According to the Ukrainian leader, who is under major pressure from Trump’s White House, Washington had supplied his country with $67 billion in weapons and $31.5 billion in direct budget support throughout the nearly three-year war with Russia.

“You can’t call this 500 billion and ask us to return 500 billion in minerals or something else. This is not a serious conversation,” Zelenskiy said.

Recall that Trump had said he wants $500 billion in rare earth minerals from Kyiv to secure Washington’s assistance and his team last week proposed a deal that Kyiv declined to sign in its current form.

Also, Zelenskiy has said the proposed deal did not contain the security provisions Ukraine desperately needs to protect it from Russian aggression.

He said the draft deal proposed the U.S. taking ownership of 50% of Ukraine’s critical minerals.