While the two governments sort out the specifics, a Ukrainian official says they are thinking about traveling to Washington to seal the deal.
According to a senior Ukrainian official, Ukraine has reached an agreement on the details of a minerals deal with the United States and may sign it as early as Friday while President Volodymyr Zelenskyy is in Washington.
According to a senior Ukrainian source who spoke to the AFP news agency on condition of anonymity, the agreement would see the United States and Ukraine work together to develop Ukraine’s natural wealth, with the proceeds going to a newly established fund that would be “joint for Ukraine and America.”
Government representatives are currently working on the specifics. We are currently thinking of traveling to Washington on Friday to sign the deal,” the person continued.
According to the Washington Post, which quoted a Ukrainian official and another someone with knowledge of the situation, the agreement was “much better term” than those provided in a previous proposal.
In the midst of ongoing negotiations, the White House had stated that it is “critical” that Zelenskyy sign an agreement to split mineral and other natural resource profits with the US. The White House has not yet verified the arrangement.
President Donald Trump “expects President Zelenskyy to sign a deal,” according to spokeswoman Karoline Leavitt, who told reporters that the agreement will reimburse the United States for previous military and economic aid given to Kiev by the Biden administration.
“It’s also great for the Ukrainian people, who have been put through hell because of this war, and it will create a lasting economic partnership, as Ukraine will need to rebuild their country because of this brutal war,” she stated.
Trump stated on Monday that he hopes to sign the deal with Zelenskyy in the White House as early as this week.
“Work on the accord is now underway. A final agreement is quite near. Rare earths will be involved, among other things. And from what I gather, he wants to come sign it here. And I’d be quite happy with that. The council or whoever might approve it would then need to approve it, but I’m sure it will happen,” he said.
“Trillions”
As negotiations continue over key issues, such as whether the mineral rights would be exchanged exclusively for future US military assistance or whether they would cover earlier installments that the Biden administration provided to Kiev, Ukraine has so far refused to sign the deal.
Trillions of dollars might be made from Ukraine’s enormous reserves of vital rare earth minerals. According to a 2024 World Economic Forum assessment, it contains almost 5% of the world’s total mineral resources.
In addition to possessing one of the biggest verified lithium reserves, Ukraine also has beryllium, uranium, zirconium, apatite, manganese, and semiconductor-grade neon gas, which is essential for the manufacturing of chips.
The US would safeguard any economic investment it makes in Ukraine’s mineral resources, according to US National Security Adviser Mike Waltz, who has rejected Ukraine’s admission to NATO because of the alliance’s mutual defense clause.
“This might have enormous implications for regional stability as well as for us and the Ukrainian people. He stated in an interview with Fox News on Monday morning that “economic investment is one of the best security guarantees that Ukraine could hope for.”
