The United States and Ukraine have reached an agreement on the terms of a draft minerals deal that is pivotal for Kyiv’s efforts to secure Washington’s backing as President Donald Trump aims to swiftly conclude the war with Russia. This development was confirmed by two sources familiar with the negotiations on Tuesday.
Key Highlights:
Draft Agreement:
The draft does not explicitly include U.S. security guarantees or a commitment to continue arms supplies. However, it emphasizes the U.S. desire for Ukraine to remain “free, sovereign, and secure.”
Future discussions regarding weapons shipments between Washington and Kyiv are ongoing.
Trump’s Statements:
Trump indicated that Ukrainian President Volodymyr Zelenskiy is expected to visit Washington on Friday to sign what he described as a “very big deal.” This announcement follows a week of contentious exchanges between the two leaders.
The U.S. president framed the deal as a means of repaying the billions of dollars in aid provided to Ukraine, suggesting that some form of peacekeeping troops may be necessary if a resolution to the conflict is achieved.
Concerns Over Concessions:
Trump’s eagerness to end the conflict has raised concerns about potential U.S. concessions to Russian President Vladimir Putin, which could jeopardize security in Ukraine and Europe.
In a recent statement, Trump labeled Zelenskiy an unpopular “dictator” needing to negotiate a quick peace deal, prompting Zelenskiy to accuse Trump of being in a “disinformation bubble.”
Mineral Wealth Implications:
The deal is anticipated to unlock Ukraine’s extensive mineral resources for U.S. investment. Trump stated, “The American taxpayer now is going to get their money back, plus.”
Previous drafts of the minerals agreement faced rejection from Zelenskiy due to Washington’s demand for rights to $500 billion of Ukraine’s natural resources, which Kyiv argued was disproportionate to the aid received.
Reconstruction Investment Fund:
The proposed agreement includes the establishment of a Reconstruction Investment Fund to collect and reinvest revenues from Ukrainian mineral and hydrocarbon sources. Ukraine would contribute 50% of the revenue (after operating expenses) until reaching the $500 billion target.
The U.S. is expected to provide long-term financial support to foster a “stable and economically prosperous Ukraine.”
European Allies’ Reaction:
European officials are reportedly unsettled by Trump’s unilateral approach to negotiations with Russia, feeling sidelined in discussions about Ukraine’s future.
A potential White House meeting could allow Zelenskiy to advocate for continued U.S. support directly to Trump, who has previously made unfounded claims about Ukraine initiating the conflict.
Ukraine’s Mineral Resources:
Ukraine possesses 22 of the 34 minerals classified as critical by the European Union, including key materials for various industries. Notably, its graphite reserves account for 20% of global resources, crucial for electric vehicle batteries and nuclear reactors.