Ukraine, U.S. reach agreement on minerals deal – NYT

According to The New York Times, citing a U.S. official, the deal will first be signed by the finance ministers of both countries, followed by an expected meeting between Volodymyr Zelensky and Donald Trump.

Zelensky previously rejected an earlier draft of the agreement because it lacked specific security guarantees for Ukraine from the U.S. Instead, it included Trump’s demand for exclusive mining rights worth $500 billion, as well as other provisions Kyiv deemed unacceptable.

The latest version, according to NYT, no longer requires Ukraine to contribute $500 billion to a U.S.-owned fund. Additionally, Ukraine will not be obligated to pay back the U.S. twice the amount of any future American aid, which could have resulted in a long-term debt burden.

Instead, the document states that Ukraine will contribute to the fund half of its revenues from the future monetization of natural resource including critical minerals, oil, and gas. While the U.S. will hold the maximum financial interest in the fund allowed under American law, it will not necessarily own the entire fund. The fund will be used to reinvest part of the revenues into Ukraine.

The United States will also commit to supporting Ukraine’s future economic development.

As Ukrinform previously reported, Donald Trump suggested that Volodymyr Zelensky could visit the U.S. as early as Friday to sign the minerals agreement.

Earlier, Ukraine’s Deputy Prime Minister for European and Euro-Atlantic Integration and Minister of Justice Olha Stefanishyna stated that both sides were in the final stage of constructive negotiations on the deal. According to her, nearly all key details had been agreed upon.

President Volodymyr Zelensky has insisted that clear U.S. security guarantees must be included in any agreement on the use of Ukraine’s natural resources. He emphasized that Ukraine seeks to be an equal partner, not a debtor.

Photo: Office of the President of Ukraine