Ukraine has finalized the terms of a significant minerals agreement with the United States, a senior official in Kyiv confirmed on Wednesday.
"We have reached an agreement with several important amendments, which we consider a positive outcome," the official told the BBC, without elaborating on specific terms.
Reports indicate that Washington has withdrawn its initial demand for $500 billion in potential revenue from Ukraine's mineral resources. However, Kyiv has not received firm security guarantees—one of its key requests amid the ongoing conflict.
US President Donald Trump, who is set to host Ukrainian President Volodymyr Zelensky in Washington this week, stated that the agreement would grant Ukraine "the right to fight on." Speaking to reporters, Trump acknowledged Ukraine’s resilience but emphasized that without US financial and military support, "this war would have ended a long time ago."
When asked about the continuation of US military aid to Ukraine, Trump responded, "Maybe until we reach a deal with Russia… We need an agreement, or this will continue indefinitely." He also suggested that any future peace deal would require an acceptable "peacekeeping mechanism."
The negotiations over Ukraine’s mineral wealth have been contentious. Trump previously criticized Zelensky, calling him a "dictator" and implying that Ukraine was responsible for the war. Zelensky dismissed the US demand for $500 billion in mineral rights, asserting, "I can't sell our state."
Ukraine’s Deputy Prime Minister Olha Stefanishyna acknowledged the minerals deal but described it as "only part of the picture," stating that broader negotiations were ongoing.
Reports suggest the agreement will be signed by Ukrainian Foreign Minister Andrii Sybiha and US Secretary of State Marco Rubio. Discussions also include establishing a reconstruction investment fund.
Ukraine is home to vast reserves of critical minerals, including lithium, titanium, and uranium. The country had previously proposed granting foreign companies access to these resources as part of its post-war economic recovery.
Meanwhile, Russian President Vladimir Putin has expressed openness to offering the US access to minerals from Russian-occupied Ukrainian territories, raising concerns among Kyiv and its European allies over potential backroom negotiations that could reshape the region’s security landscape.
BDST: 0843 HRS, FEB 26, 2025
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