Trump scraps signing of $800 billion Ukraine reconstruction deal at Davos

Washington and Kyiv will not sign an $800 billion agreement outlining Ukraine’s post-war reconstruction on the sidelines of the World Economic Forum in Davos, scrapping earlier plans to finalize the pact.

According to a Ukrainian source who spoke to Axios, the document was intended to be signed by US President Donald Trump and Ukrainian President Volodymyr Zelenskyy, but the leaders’ meeting scheduled for the signing has been called off.

Washington: Plan has not matured yet

A US source briefed the publication that no firm date had been set for the signing, emphasizing that the plan still requires further work.

The source noted that while Trump might still meet with Zelenskyy and select European leaders in Davos, it would be a mistake to anticipate any major breakthrough from these engagements.

Zelenskyy: I won’t go if there are no concrete results

President Zelenskyy announced he would remain in Kyiv for the time being to address the country’s critical energy and heating challenges following recent Russian strikes.

Stressing that the “economic prosperity plan” and security guarantees are of vital importance, Zelenskyy stated he would only travel to Davos if all necessary documents were ready for finalization.

The Ukrainian leader underscored that any potential meeting with Trump must yield concrete results that strengthen Ukraine and bring an end to the war closer.

A plan four times the size of pre-war revenue

The Kyiv administration unveiled its “economic prosperity plan” in late December, arguing that the initiative is essential to “bring life back to Ukraine.”

The roadmap envisions $800 billion in investment over the decade following the conclusion of the war.

This figure corresponds to roughly four times Ukraine’s pre-war gross domestic product (GDP). Through this agreement, Kyiv aims to attract significant private sector investment.

Greenland crisis overshadowed Ukraine agenda

According to sources cited by The Telegraph, Zelenskyy had originally hoped to sign the accord during his December 21 visit to Washington, but European allies convinced him that Davos would provide a more suitable venue.

At the Davos forum, Trump was also expected to convene with leaders from the “coalition of the willing”—nations aiming to persuade the US president to provide security guarantees to Ukraine.

However, as reported by the Financial Times, Trump’s threats regarding the purchase of Greenland—and his announcement that he would impose tariffs on European nations deploying troops to the island—have completely shifted the summit’s focus toward this emerging crisis.

“Greenland could consume Davos’ oxygen”

Finnish President Alexander Stubb expressed concern that the Greenland dispute would “suck all the oxygen” out of the Davos forum, pushing the war in Ukraine to the background.

Nevertheless, Stubb noted that securing the economic recovery agreement remains the best possible outcome for Ukraine at Davos.