Ukraine has agreed to the terms of a significant minerals deal with the United States, a senior official in Kyiv has confirmed to the Press.
“We have indeed reached an agreement with a number of positive amendments and view it as a favourable outcome,” the official stated, without disclosing further details. Media reports suggest that Washington has withdrawn an initial demand for a right to $500 billion (£395 billion) in potential revenue from Ukraine’s natural resources. However, the US has not provided firm security guarantees, a key demand from Ukraine. US President Donald Trump announced that he expected Ukrainian President Volodymyr Zelensky to visit Washington this week to sign the agreement, following recent tensions between the two leaders. Without confirming that a deal had been finalised, Trump stated on Tuesday that, in exchange, Ukraine would gain “the right to fight on.”
“They’re very brave,” he told reporters, but added, “without the United States—its funding and military equipment—this war would have ended very quickly.” When asked whether American military aid and ammunition supplies to Ukraine would continue, Trump responded: “Maybe, until we reach a deal with Russia… A deal is necessary, or this will go on indefinitely.” He also suggested that “some form of peacekeeping” would be required in Ukraine after any agreement, but emphasised that it would need to be “acceptable to all sides.”
Tensions Over US Demands and Aid Conditions
Just last week, Trump described Zelensky as a “dictator” and appeared to blame Ukraine rather than Russia for initiating the war. His comments followed Ukraine’s rejection of Washington’s demand for $500 billion in mineral wealth, with Zelensky accusing Trump of being influenced by Russian disinformation. Trump has pushed for access to Ukraine’s mineral resources in return for past US military and financial aid since Moscow launched its full-scale invasion three years ago. Zelensky has argued that US assistance had not amounted to anywhere near the sums being claimed, insisting, “I can’t sell our state.”
On Tuesday, Trump stated that the US had provided Ukraine with between $300 billion and $350 billion. “We want that money back,” he declared. “We’re helping Ukraine through a very serious crisis… but the American taxpayer is going to get their money back—and more.”
Ukraine’s Deputy Prime Minister Olha Stefanishyna, who has led the negotiations, told the Financial Times—the first outlet to report the deal—that the agreement was “only part of the picture.”
“We have repeatedly heard from the US administration that this is just one element of a larger arrangement,” she said. According to Ukrainian sources, the US has had to scale back some of its more stringent demands. However, many aspects of the agreement remain subject to further negotiation.
The precedent, however, has now been set. Under Trump’s leadership, US foreign aid comes with explicit conditions. The era of providing aid for purely humanitarian or strategic reasons appears to be over, marking a fundamental shift in American foreign policy after more than 75 years—from the Marshall Plan to post-Cold War idealism and the “Freedom Agenda” under George W. Bush. Ukraine is unlikely to be the only country affected. Over the next four years, Trump’s administration is expected to apply its “America First” principles globally.
Details of the Minerals Agreement and Reconstruction Fund
Ukraine’s news outlet Ukrainska Pravda reported that the minerals deal would be signed by Ukrainian Foreign Minister Andrii Sybiha and US Secretary of State Marco Rubio. The Economics Pravda (EP) section of the news site also reported that the two nations had agreed to establish a reconstruction investment fund. Ukraine possesses vast reserves of critical minerals, including lithium and titanium, along with substantial deposits of coal, gas, oil, and uranium—resources valued at billions of dollars. Last year, Zelensky presented a “victory plan” to Ukraine’s Western allies, proposing that foreign companies could gain access to parts of the country’s mineral wealth once the war ended.
Concerns Over US-Russia Relations and European Security
Ukraine and its European partners have grown increasingly alarmed by a recent warming of US-Russia ties, including bilateral talks held in Saudi Arabia last week. There is mounting concern in Kyiv and across Europe that Ukraine and its allies may be sidelined in any negotiations aimed at ending the war, with critical decisions about the continent’s future security potentially being made without their input.
Ukraine’s Mineral Wealth
It is estimated that Ukraine holds around 5% of the world’s “critical raw materials,” including:
• 19 million tonnes of proven graphite reserves, essential for electric vehicle batteries.
• A third of Europe’s lithium deposits, a key component in modern battery technology.
• 7% of the world’s titanium supply before Russia’s full-scale invasion, used in industries ranging from aerospace to power generation.
• Significant deposits of rare earth metals, vital for the production of electronics, wind turbines, and advanced weaponry.
Some of these valuable resources have already been seized by Russia. According to Ukraine’s Economy Minister Yulia Svyrydenko, an estimated $350 billion worth of resources remain under Russian occupation.
With inputs from agencies
Image Source: Multiple agencies
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