Price hike on US weapons sales to Europe may pay for American ‘air cover’ for Ukraine, Treasury says

The Trump administration is selling weapons to European countries for an added profit. A top official has suggested that the money could finance American air cover for Ukraine as part of future security guarantees.

“Right now, we are selling arms to the Europeans, who are then selling them on to the Ukrainians,” Secretary of the Treasury Scott Bessent said in an interview with Fox News on Wednesday.

President Donald Trump “is taking a 10% markup on the arms, so maybe that 10% will cover the cost of the air cover,” he said.

Ukraine is pushing hard for security guarantees from NATO militaries to deter future Russian invasions as part of ongoing peace talks. Some European countries appear to be willing to contribute ground forces to the potential mission. Moscow has voiced its opposition to this.

The Trump administration has ruled out the possibility of deploying US troops on the ground in Ukraine, but officials say Washington could contribute by providing air or satellite support. The details, however, are unclear and could range from fighter jet patrols to drone surveillance.

“When it comes to security, they’re willing to put people on the ground,” Trump told Fox & Friends on Tuesday, adding that “we’re willing to help them with things, especially, probably, if you talk about by air, because nobody has the kind of stuff we have.”

The White House didn’t elaborate on what specifically that could mean, but said that the president has a range of options on the table.

Just days into the war, Ukraine pushed for NATO to create a “no-fly zone” over the country, but that request was rejected, as such a mission would dramatically increase the risks of Western and Russian aircraft engaging one another in combat, raising the risk of a broader conflict. A peacetime air policing mission, however, would carry less risk.

NATO aircraft routinely fly surveillance and air policing missions in Eastern Europe, frequently near the Ukrainian border, in an effort to keep tabs on Russian activity. These include fighter jets and spy planes. Patrols over Ukraine, however, would be new. It remains unclear if the US would be willing to provide that kind of support and what level of risk it would tolerate. Air support might also mean added air defense.

Trump and NATO Secretary General Mark Rutte agreed to a new arrangement in July that shifted the cost of arming Ukraine onto European allies, with NATO coordinating US weapons deliveries paid for by Europe and allies also buying American arms directly to send to Kyiv.

Germany, the Netherlands, Denmark, Norway, and Sweden have financed three packages of military equipment and munitions — each valued around $500 million — for Ukraine. The 10% markup that Bessent disclosed appears to be from these weapons sales.

Details of what has been included in the weapons sales are limited. NATO said they “are designed to meet Ukraine’s most urgent operational requirements with equipment and munitions sourced from US stockpiles.” Germany has acknowledged sending Kyiv advanced Patriot air defense systems.

The Trump administration has made ending the war in Ukraine that began in February 2022 with Russia’s full-scale invasion a top foreign policy objective. The president, however, has acknowledged that doing so is proving to be a difficult task.

“I’ve ended six wars, and I thought this, maybe, would be the easiest one. And it’s not the easiest one. It’s a tough one. A lot of reasons for it,” Trump, flanked by Ukrainian President Volodymyr Zelenskyy at the White House, told reporters on Monday.

The past week has featured a flurry of high-stakes diplomatic activity aimed at reaching a peace agreement between Ukraine and Russia. Trump hosted Russian President Vladimir Putin in Alaska for a summit on Friday before welcoming Zelenskyy and top European leaders to the White House on Monday.

Trump said after the meeting that they discussed security guarantees and how European states could provide those with US “coordination.” The US president also said he is trying to arrange a meeting between Putin and Zelenskyy; however, their respective positions on the terms of a ceasefire or peace deal remain far apart.

And so the fighting continues. Russia on Wednesday night carried out its largest attack against Ukraine this month, launching over 600 missiles and drones.

“The Russians carried out this attack as if nothing has changed at all, as if there are no global efforts to stop this war,” Zelenskyy said on Thursday. “There is still no signal from Moscow that they truly intend to engage in substantive negotiations and end this war.”

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