UKRAINE has agreed to a minerals deal with the US, Ukrainian security officials have said.
Kyiv hopes the move will improve relations with the Trump administration and bolster long-term security ties.
AFPUkraine has reportedly agreed to the minerals deal with the United States, officials said[/caption]
AFPKyiv hopes the deal will improve relations with Donald Trump[/caption]
AFPThe US President previously slammed Zelensky a ‘dictator’[/caption]
The agreement, which centres on the joint development of Ukraine’s vast mineral resources — including oil and gas — comes after Washington dropped its demand for a $500 billion share of potential revenues.
While the deal does not include explicit US security guarantees, Ukrainian officials see it as a step toward deepening economic and strategic cooperation, the Financial Times reports.
“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,” Ukraine’s Deputy Prime Minister and Justice Minister Olha Stefanishyna told the FT on Tuesday.
The original terms, which President Donald Trump framed as a way for Ukraine to repay the US for military and financial aid since Russia’s 2022 invasion, were met with fierce backlash from Kyiv and European allies.
After President Volodymyr Zelenskyy rejected the initial draft, it was reportedly when Trump called him a “dictator” and suggested Ukraine bore responsibility for starting the war.
The final version, dated February 24 and seen by the FT, establishes a fund into which Ukraine will contribute 50% of proceeds from future monetisation of state-owned mineral resources.
However, it excludes existing revenue streams from key producers like Naftogaz and Ukrnafta.
Crucially, it leaves unresolved details on the US stake in the fund and terms of joint ownership, which will be determined in future negotiations.
While Ukraine has long relied on the US as its primary military aid donor, Trump has dramatically shifted Washington’s approach, launching direct talks with Russia without involving Ukraine or European allies.
Against this backdrop, Kyiv is pushing for a broader relationship with the US that extends beyond military support.
Officials said the agreement has been approved by Ukraine’s justice, economy, and foreign ministries, with discussions underway for Zelenskyy to visit the White House in the coming weeks to sign the deal 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,” a Ukrainian official told the Financial Times.
Despite the agreement’s finalization, Zelenskyy’s government must still secure parliamentary approval, with opposition lawmakers expected to challenge the deal.
Meanwhile, White House Press Secretary Karoline Leavitt underscored the administration’s urgency, stating on Tuesday that “it is critical that this deal is signed,” though she did not provide further updates on negotiations.
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