Ukraine has agreed on the terms of a minerals deal with the United States and may finalise it as soon as Friday during President Volodymyr Zelensky’s visit to Washington, according to a high-ranking Ukrainian official.
US President Donald Trump had insisted that Ukraine allow access to its rare earth minerals as compensation for the substantial wartime aid it received under Joe Biden’s administration.
The agreement would involve the United States collaborating to develop Ukraine’s mineral resources, with the profits being allocated to a newly established fund that would be “joint for Ukraine and America,” a senior Ukrainian source informed AFP on the condition of anonymity.
Ukraine had requested security assurances from the United States as a part of the agreement. The source indicated that the draft of the deal includes a mention of “security,” but does not specifically outline the role of the United States.
“There is a general clause that says America will invest in a stable and prosperous sovereign Ukraine, that it works for a lasting peace, and that America supports efforts to guarantee security.”
Additionally, the source mentioned that Washington had removed provisions that would have been disadvantageous to Ukraine, including a stipulation to provide “$500 billion” worth of resources.
