German Chancellor Olaf Scholz has slammed US President Donald Trump's demand for rare earth resources from Ukraine in exchange for financial aid, DW reports.

The German politician made the remarks on Monday evening after an informal EU summit in Brussels.

"We should have used these resources of the country to fund everything that would be needed after the war," Scholz said, Reuters reports.

He said it would be "very egotistic, very self-centered" to use the money now to fund defense assistance.

Scholz stressed that Ukraine will need a strong army in the future, as well as funding for the country's reconstruction.

"These are big problems, given the enormous destruction that is taking place in Ukraine. That's why I think it would be better if Ukraine's resources were used for a good future," the German Chancellor added.