What happened
Ukrainian President Volodymyr Zelensky has reportedly asked President Trump to help persuade Elon Musk to broaden access to Starlink so that Ukraine can use the satellite internet service in drone strikes against Russia. The request came during a closed-door Oval Office meeting while Zelensky was in the U.S. for a memorial service, according to the Associated Press and The Atlantic.
Why it matters for the market
Zelensky also made similar appeals to members of Congress during his visit. Sen. Mike Rounds (R-S.D.) said Ukraine needs long-term access to Starlink to make its longer-range and intermediate-range systems more accurate.
Starlink, which is controlled by Musk, provides internet access via satellites even in harsh weather conditions where traditional networks may not work. Musk has previously allowed Ukraine to use Starlink in the country and in some Russian-occupied territories such as Crimea, but banned Russia's use of the service in February after calling it unauthorized.
Ukraine views broader Starlink access as an alternative to relying on U.S. Patriot missiles. The request follows Trump's approval for Ukraine to manufacture its own interceptors, though Zelensky said that process could take years to match U.S. output. During his visit, Zelensky also said he met with defense contractors, including representatives from Raytheon and Lockheed Martin, to discuss restructuring Ukrainian-made ballistic missiles into Patriot interceptors.
What traders should watch
An official told The Atlantic that Trump is likely to approve Zelensky's Starlink request only if he believes it would help end the war. Meanwhile, a visit to Ukraine from Trump's senior officials Steve Witkoff and Jared Kushner for peace negotiations is expected, according to a Ukrainian official.
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