President Donald Trump announced on 20 March that he would soon sign a deal with Ukraine regarding rare earth minerals.
This follows the previous attempt to sign the mineral deal in February during the President’s Zelenskyy visit to the White House, but failed after a heated exchange between Ukrainian President, US President and Vice President.
The mineral deal, agreed between the US and Ukraine, establishes a joint investment fund for Ukraine’s critical minerals and other resources. Ukraine will contribute 50% of the revenues from the future monetization of its state-owned mineral resources to this fund, which will invest in projects within Ukraine.
The agreement does not include security guarantees from the US, and aims potentially support Ukraine’s post-conflict reconstruction.
“We’re doing very well with regard to Ukraine and Russia. And one of the things we are doing is signing a deal very shortly with respect to rare earths with Ukraine, which they have tremendous value in rare earth,” Trump said.
After the heated discussion in the Oval Office, the US and Ukraine resumed their diplomatic talks over the peace negotiations with the countries’ delegation meeting in Saudi Arabia. On the meeting, Ukraine accepted the proposal for a 30-day ceasefire.
Trump also spoke with Putin on 18 March and with President Zelenskyy on 19 March.
“We spoke yesterday with, as you know, President Putin and President Zelensky, and we would love to see that come to an end, and I think we’re doing pretty well in that regard,” Trump said. “I believe we’ll get it done. We’ll see what happens,” Trump said.
Trump spoke with Russian President Vladimir Putin on 18 March and with Zelenskyy on 19 March.
White House press secretary Karoline Leavitt said during press briefing on 19 March that the administration had “moved beyond the economic minerals deal.”
“We are at a place of peace. We’re at a partial ceasefire, and we’re moving towards a full cease fire and a long standing peace in this conflict,” Leavitt explained.
Accoridng to Leavitt, the minerals deal was that first set of framework in the “very public meeting with President Zelensky and President Trump in the Oval Office.”
“We are now focused on a long term peace agreement,” she added.
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