Ukrainian President Volodymyr Zelensky is set to meet with his U.S. counterpart in Washington, D.C., to sign a minerals agreement. Ukraine has agreed to a U.S.-proposed deal regarding its mineral wealth after former President Donald Trump softened his most extreme demands.
The agreement, expected to be signed as early as Friday, resolves a contentious dispute over the terms. A key sticking point was Trump’s demand that Ukraine use profits from its natural resources to repay the United States up to $500 billion. However, the draft deal does not include this requirement. Instead, Ukraine will contribute 50% of funds raised from future mineral and energy developments, according to a draft obtained by the Financial Times. The U.S. will not receive rights to Ukraine’s existing oil and gas production.
Speaking to reporters in the Oval Office on Tuesday, Trump did not confirm that a final agreement had been reached. He claimed Kyiv secured $350 billion from the deal—the amount he asserts the U.S. has already provided Ukraine. He reaffirmed continued American military aid, stating, "They’re very brave, but without the United States and its money and military equipment, this war would have been over in a very short period." Trump added that U.S. arms supplies would continue "until we have a deal with Russia."
Trump also denied speaking to Russian President Vladimir Putin about accessing minerals in Russian-occupied Ukrainian territories. However, he expressed openness to a mineral trade deal with Russia, saying, "I’d like to buy minerals on Russian land too if we can. They have magnificent rare earth. They have very valuable land that isn’t utilized, so something like that could take place."
The agreement follows a war of words between Trump and Zelensky. Last week, Trump called Zelensky a "dictator" and urged him to negotiate a swift peace deal to avoid losing Ukraine entirely. Zelensky, in turn, rejected an earlier version of the deal that he deemed unfair, arguing it would burden Ukraine with repayments for generations.
He also sought firm security guarantees from the U.S. against future Russian aggression, but the final deal did not include specific security commitments. Instead, Ukrainian officials have framed the agreement as a means of ensuring long-term U.S. investment in the country’s stability.
The minerals deal is expected to be signed by Ukrainian Foreign Minister Andriy Sybiga and U.S. Secretary of State Marco Rubio, according to Ukrainska Pravda. Additionally, the two nations will establish a "Reconstruction Investment Fund," with contributions based on each country’s actual input. The U.S. has also pledged a separate financial commitment to Ukraine, details of which will be determined later.
Ukraine’s cabinet is expected to recommend signing the deal on Wednesday, and senior Ukrainian officials indicate that Zelensky may sign it in Washington on Friday. Trump has welcomed Zelensky’s visit, saying, "I hear that he’s coming on Friday; certainly, it’s OK with me if he’d like to."
Trump also claimed to have spoken with Putin, stating, "I think he wants to settle it and get back to life." His push for the minerals deal has drawn criticism, with opponents accusing him of attempting to strongarm Ukraine into an unfavorable agreement.
Meanwhile, the European Union is reportedly pursuing its agreement to access Ukraine’s mineral wealth. Stephane Sejourne, the EU’s industry commissioner, recently visited Kyiv to promote Europe’s alternative proposal. He highlighted Ukraine’s potential role in supplying 21 of the 30 critical materials Europe needs, emphasizing a "win-win partnership."
Sejourne’s comments could be interpreted as an attempt to challenge Washington’s deal, potentially fueling transatlantic tensions over Trump’s peace negotiations between Ukraine and Russia. However, the European Commission downplayed the remarks, clarifying that no formal EU proposal had been presented and pointing to a 2021 Memorandum of Understanding on critical materials signed between Brussels and Kyiv.
The U.S.-Ukraine minerals agreement could provide insight into how Ukraine’s resources may factor into a future peace settlement. Many of Ukraine’s richest mineral deposits lie in territories currently occupied by Russian forces. On Monday, Putin expressed willingness to grant the U.S. access to rare earth minerals in both Russia and occupied Ukrainian regions. He asserted that Russia holds "significantly more resources of this kind than Ukraine" and signaled openness to foreign investment in these areas.
Trump may view Putin’s comments as a strategic advantage, especially amid concerns that China could demand access to Russia’s rare earth minerals as compensation for its wartime support. The growing alliance between Moscow and Beijing formalized through their "no limits" partnership, has heightened these geopolitical stakes.
During his first term, Trump sought to limit China’s access to advanced technologies, including semiconductors and electric vehicles—both of which rely heavily on rare earth materials found in Ukraine and Russia. The proposed minerals deal with Ukraine could therefore be a critical element of broader U.S. efforts to secure strategic resources for technological advancement.
I hope that this deal does provide the security that Zelenskyy and Ukraine so deserve including NATO membership in the near future!
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