Washington/Kyiv: The United States and Ukraine have reached an agreement on the terms of a draft minerals deal, a crucial component of Kyiv’s broader strategy to secure Washington’s backing amid President Donald Trump’s efforts to bring a swift end to the ongoing conflict with Russia, according to two sources familiar with the matter.
A source with knowledge of the draft agreement indicated that the document does not include provisions for U.S. security guarantees or continued military aid. However, it does affirm that the United States seeks a “free, sovereign, and secure” Ukraine.
Ongoing Discussions on Military Support
One of the sources noted that future U.S. arms shipments to Ukraine remain under negotiation. Meanwhile, Trump stated that Ukrainian President Volodymyr Zelenskiy intends to visit Washington on Friday to sign what he described as a “very big deal”. This announcement follows a series of tense exchanges between the two leaders last week.
Trump has framed the minerals agreement as a form of repayment for the substantial aid the U.S. has provided to Ukraine. He also reiterated the necessity of deploying peacekeeping forces to Ukraine should a settlement to end the war be reached. While some European nations have expressed willingness to send peacekeeping troops, Moscow has consistently rejected any NATO involvement in Ukraine. Trump suggested that Russia would accept European peacekeepers, but the Kremlin denied this claim.
The US and Ukraine have agreed on the terms of a draft minerals deal central to Kyiv's push to win Washington's support as President Donald Trump seeks to rapidly end the war with Russia https://t.co/6ZPXh8399F pic.twitter.com/i68OgVe3uH
— Reuters (@Reuters) February 26, 2025
Concerns Over U.S. Concessions to Russia
Trump’s push to expedite a resolution to the conflict and his overtures toward Moscow have raised concerns that Washington may offer significant concessions to Russian President Vladimir Putin. Analysts warn that such concessions could undermine Ukraine’s security, alter the balance of power in Europe, and reshape the geopolitical landscape.
Last week, Trump falsely labeled Zelenskiy an unpopular “dictator” who needed to negotiate a swift peace agreement or risk losing his country. In response, Zelenskiy accused Trump of residing in a “disinformation bubble.”
According to sources, both U.S. and Ukrainian officials have endorsed the draft agreement and recommended that it be signed.
Economic Implications: U.S. Access to Ukraine’s Mineral Wealth
The agreement could grant the United States access to Ukraine’s vast mineral resources. “What we’re doing is now we’re saying, look, we want to be secured,” Trump said. “The American taxpayer now is going to get their money back, plus.”
Zelenskiy previously refused to sign an earlier draft of the agreement, which would have granted Washington rights to $500 billion worth of Ukrainian mineral wealth. Kyiv opposed the deal, arguing that it had received significantly less in U.S. aid and that the agreement failed to provide essential security assurances.
Under the terms of the revised draft, Ukraine and the U.S. would establish a Reconstruction Investment Fund to collect and reinvest revenues from Ukrainian mineral resources, hydrocarbons, and other extractable materials. According to sources, Ukraine would contribute 50% of the revenue—minus operational expenses—until the contributions reach a total of $500 billion. In return, the United States would commit to long-term financial support for Ukraine’s economic stability and development.
When asked what Ukraine would receive in exchange for the minerals deal, Trump cited the $350 billion already provided by the U.S., along with extensive military equipment and support.
Scott Anderson, a governance fellow at the Brookings Institution, suggested that the deal might appear to some as a form of “piracy,” but argued that it serves a strategic purpose. “They say this gives him (Trump) real skin in the game. I think there is real logic to that,” Anderson said.
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European Allies Caught Off Guard
“I hear that he’s coming on Friday,” Trump told reporters. “Certainly it’s okay with me if he’d like to. And he would like to sign it together with me.”
Trump’s unilateral negotiations with Moscow and his administration’s signals that U.S. priorities are shifting away from European security have unsettled European allies. Many in Europe view his approach as sidelining both Kyiv and traditional transatlantic partners.
A potential White House meeting would offer Zelenskiy an opportunity to directly appeal to Trump for continued U.S. support, particularly in light of the American president’s recent accusation that Kyiv was responsible for starting the war.
Ukraine’s Rich Mineral Reserves
Ukraine holds deposits of 22 of the 34 minerals identified by the European Union as critical for industrial and technological applications. These include construction materials, ferroalloys, precious and non-ferrous metals, as well as rare earth elements. Notably, Ukraine possesses 20% of the world’s graphite reserves, a key component in electric vehicle batteries and nuclear reactors.
