A Ukrainian official stated that Ukraine has reached an agreement on the terms of a minerals deal with the United States, which could be signed on Friday. This move is part of Ukraine’s strategy to establish the foundation for future security guarantees from the US.
Former President Donald Trump had insisted that Ukraine provide the US with access to its rare earth minerals as compensation for the billions of dollars in wartime aid it received during Joe Biden’s administration.
The agreement would facilitate the joint development of Ukraine’s mineral resources by the United States, with the proceeds being directed to a newly established fund that would be “joint for Ukraine and America,” a senior Ukrainian source reported to AFP on the condition of anonymity.
The source also indicated that the draft deal referenced “security,” although it did not explicitly outline the commitments expected from the United States—one of Ukraine’s previous conditions for the deal.
Former US President Donald Trump mentioned his desire for ‘$500 billion’ in minerals to offset the aid provided to Ukraine.
“Currently, government officials are finalizing the details,” the source mentioned, adding that President Volodymyr Zelensky could potentially sign the agreement during a visit to Washington as early as Friday.
Mr. Trump has significantly altered US foreign policy since taking office last month, engaging in discussions with Russian President Vladimir Putin while levying threats against traditional US allies.
Yesterday, the United States joined forces with Russia at the United Nations to evade any condemnation regarding Russia’s invasion of its neighboring country three years ago.
Relations with Trump
Ukraine is optimistic that the minerals deal will enhance relations with the Trump administration, which have deteriorated due to a verbal clash between Mr. Zelensky and Mr. Trump.
Last week, the former Republican president labeled his Ukrainian counterpart a “dictator” and urged him to “move fast” to conclude the war, following talks in Saudi Arabia that involved Russian and US officials but excluded Ukraine.
Then, on Saturday, during a prominent conservative conference, Mr. Trump expressed a desire to retrieve “money back” for the billions of dollars in aid dispatched to support Ukraine in its conflict with Russia.
Earlier, Mr. Zelensky had accused Mr. Trump of residing in a Russian “disinformation space.”
The agreement comes on the heels of a contentious exchange between Mr. Zelensky and Mr. Trump over recent weeks.
Mr. Trump had previously requested “$500 billion worth” of rare earth minerals to compensate for the aid rendered to Kyiv—a figure Ukraine had hesitated at, and which does not align with the reported US aid statistics.
The source asserted that the US had eliminated this clause, along with other provisions that were not advantageous to Ukraine.
“They removed all the clauses that did not suit us,” the source remarked.
The United States has provided Ukraine with over $60bn in military assistance since Russia’s invasion, according to official figures—representing the most significant contribution among Ukraine’s allies, yet considerably less than Mr. Trump’s $500bn estimate.
Concerns in Europe
French President Emmanuel Macron, who met with Mr. Trump yesterday amid apprehensions regarding the future of US relations with its European allies, will inform fellow EU leaders via video conference tomorrow about his discussions with the American leader, officials noted.
Mr. Macron also briefed Mr. Zelensky on his conversations with Mr. Trump, to which the Ukrainian leader expressed gratitude for “all your help and support.”
During a White House meeting commemorating the third anniversary of Russia’s full-scale invasion, Mr. Macron cautioned Mr. Trump that peace should not equate to the “surrender” of Ukraine.
Mr. Trump’s shift in stance toward Russia has raised concerns that it could jeopardize not only US support for Ukraine but also that for the rest of Europe.
In a phone conversation with Mr. Macron, British Prime Minister Keir Starmer commended Mr. Trump for “working towards a durable peace in Ukraine,” according to a summary of the call from Downing Street.
Mr. Starmer, who is scheduled to visit the White House on Thursday, has emphasized that a US “backstop” is essential to deter Russia from “launching another invasion in just a few years’ time.”
Read more: Ukraine’s critical minerals: What are they and why does the US want them? Latest Ukraine stories
