Discussions between Ukrainian President Volodymyr Zelenskiy and U.S. Vice President JD Vance in Munich ended on Friday without finalizing a critical minerals deal crucial for Ukraine’s economic collaboration with the United States. The meeting aimed to secure U.S. investment in Ukraine’s vast mineral resources amid ongoing concerns about security guarantees against Russia.
Key Highlights:
Meeting Overview:
Zelenskiy and Vance engaged in talks but did not announce a conclusive agreement on the critical minerals deal.
Zelenskiy described the meeting as “good” and expressed readiness to expedite negotiations for peace.
Draft Agreement:
Ukraine presented a revised draft agreement to the U.S. after concerns over an earlier version introduced on Wednesday.
The deal aims to open Ukraine’s mineral resources, including rare earth elements, titanium, uranium, and lithium, to U.S. investment.
Sticking Points:
The Ukrainian delegation indicated that “some details” still needed resolution, particularly regarding security guarantees from the U.S. and Europe.
Zelenskiy emphasized the importance of a mutually beneficial partnership rather than a one-sided agreement.
U.S. Proposal Concerns:
The U.S. draft, presented by Treasury Secretary Scott Bessent, was perceived by Zelenskiy as “take-it-or-leave-it,” raising concerns about its fairness.
Sources described the U.S. proposal as “one-sided,” necessitating further adjustments.
Trump’s Position:
Former President Donald Trump has not committed to continuing military assistance to Ukraine but expressed a desire for a substantial amount of rare earth minerals from the country.
Trump’s administration plans to intertwine Ukraine’s economy with that of the U.S., ensuring that American taxpayers see a return on their investments.
Bipartisan Support:
Zelenskiy met with a bipartisan group of U.S. senators, voicing his concerns about the U.S. proposal.
Senator Brian Schatz noted that the proposal “needs massaging,” suggesting that further negotiation is necessary to reach a satisfactory agreement.