Trump to offer Putin economic incentives to end Russia's war in Ukraine, report says

US President Donald Trump is reportedly ready to present Vladimir Putin with a proposal that includes several economic concessions to Russia in exchange for peace in Ukraine, report claims.

Among the incentives would be access to Alaska's natural resources, as well as Ukrainian rare earth minerals and the lifting of some sanctions on Russia's aircraft industry, according to UK newspaper The Telegraph.

US Treasury Secretary Scott Bessent and other senior administration officials are reportedly working closely with Trump to finalise the proposals ahead of the summit.

In April, Kyiv and Washington signed a deal that gives the US access to Ukraine's minerals. According to the Kyiv School of Economics, Ukraine holds one-third of Europe's lithium reserves and 3% of global stock.

Two of Ukraine's largest lithium deposits lie in Russian-held territory, and Putin has laid claim to the valuable minerals extracted there.

Ukrainians remain sceptical

Ukrainians in Kyiv on Wednesday voiced scepticism that the planned summit between Trump and Putin will bring Russia's war on Ukraine to an end.

Trump has threatened “very severe consequences” if Putin does not agree to stop his war in Ukraine the summit, to be held in Alaska on Friday, though he did not say what those consequences might be.

Kyiv residents weren't optimistic of a breakthrough.

"In my opinion, nothing is likely to change in the coming days," said a woman who gave her name only as Natalya.

"We have already seen numerous times how negotiations have been postponed, failed, and other changes have occurred."

Oleksandra Kozlova, 39, head of department in a digital agency, echoed her sentiment.

"People have already lost hope. Personally, I don't think this round will be decisive," she said.

Trump consulted with European leaders earlier on Wednesday, who said the president assured them he would make a priority of trying to achieve a ceasefire in Ukraine when he speaks with Putin on Friday in Anchorage.

Prior to Trump announcing the meeting with Putin, his efforts to pressure Russia into stopping the fighting had delivered no progress.

Ukrainian President Volodymyr Zelenskyy has repeatedly insisted any peace deals must include robust security guarantees for Ukraine to protect it from future Russian aggression.