Kyiv: Ukraine and the United States are in the final stages of negotiations over access to Ukraine’s natural resources, with “nearly all key details finalized”, Deputy Prime Minister Olha Stefanishyna stated on February 24.
According to the Kyiv Independent, Stefanishyna emphasized both sides’ commitment to swiftly concluding the deal but did not disclose specific terms. However, previous reports indicate that the U.S. has pushed for a $500 billion claim on Ukraine’s natural resources—including critical minerals, oil, and gas—as a means of recouping past aid.
President Volodymyr Zelenskyy has so far resisted signing the agreement, citing concerns over the absence of U.S. security guarantees and the disproportionate financial burden. He has reportedly pointed out that Ukraine has received $100 billion in grants under former President Joe Biden and questioned the fairness of the new financial terms.
Escalating Pressure from Trump
With Donald Trump back in office, pressure on Kyiv to finalize the agreement has intensified. Trump has openly criticized Zelenskyy, calling him a “dictator without elections” and cautioning that he must “move fast, or he won’t have a country left.”
Earlier drafts of the deal reportedly proposed a 50% U.S. stake in Ukraine’s natural resources, as well as control over key infrastructure and ports. Zelenskyy has rejected these terms, arguing that Ukraine cannot accept such conditions without guarantees regarding its security and sovereignty.
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A particularly contentious aspect of the agreement is its loan repayment structure, which would require Ukraine to repay twice the value of any future U.S. aid.
Zelenskyy highlighted the issue, stating, “For every U.S. dollar, Ukraine must return two. In simple terms, this is 100% of the loan.”
Despite these disputes, Stefanishyna remains optimistic that the deal could be finalized in Washington soon.
