Ukrainian officials confirmed that the deal is now ready for signing after the US dropped its previous demand for a right to $500 billion in potential revenue from the exploitation of these resources. While the agreement does not include explicit security guarantees, Ukrainian officials argued that the terms negotiated are far more favorable than earlier proposals.
“The minerals agreement is only part of the picture. We have heard multiple times from the US administration that it’s part of a bigger picture,” Olha Stefanishyna, Ukraine’s deputy prime minister and justice minister who led negotiations, told the Financial Times.
This version of the deal marks a huge step in the relationship between Ukraine and the United States, as the Eastern European is now offering a greater say in how its minersl wealth is managed. Ukrainian officials view it as a vital step toward solidifying their ties with the US and ensuring a long-term post-war recovery plan. The fund created by the agreement is expected to boost Ukraine’s economy and infrastructure by reinvesting the proceeds from mineral resources back into the country, allowing Kyiv to further modernize its industries.
The lack of explicit security guarantees, which had been a key Ukrainian demand, remains a major issue for the Ukrainian side.
The outlet reports: After three years in which the US was Kyiv’s primary military aid donor, Trump has overturned Washington’s policy by opening bilateral talks with Russia, without any European allies or Ukraine at the table. Ukrainian officials said the deal had been approved by the justice, economy and foreign ministers, and held out the prospect of Zelenskyy travelling to the White House in the coming weeks for a signing ceremony with Trump.
“This will be a chance for the president to discuss what the bigger picture is. And then after it, we will be able to think of the next steps,” said one official.
This is a breaking new story. Refresh for updates.