The Ukrainian-American minerals agreement faces potential revisions as US President Donald Trump aims to secure what sources describe as a “bigger and better deal.”
The mineral deal would allow the US access to Ukraine’s mineral resources, including rare earth metals, graphite, lithium, and titanium, valued at potentially $1 trillion and used for the production of electronics and weapons. The agreement is seen as a way for Ukraine to secure US support and investment, however it lacks security guarantees for Ukraine, which was a point of contention in earlier negotiations.
Sources familiar with the negotiations told CBS News that the current agreement draft is not final and key parameters remain subject to change.
US Treasury Secretary Scott Bessent confirmed this uncertainty during a CBS News appearance, stating the agreement is not currently on the negotiating table after the White House dispute between Zelenskyy and Trump.
The signing ceremony was ultimately derailed during a 28 February meeting between the two presidents. Trump claimed Zelenskyy was “not ready for peace,” while the Ukrainian leader maintained his country’s willingness to finalize the agreement.
Despite the diplomatic impasse, Ukrainian President Volodymyr Zelenskyy recently expressed willingness to move forward, declaring that Kyiv stands ready to sign the minerals agreement “at any time and in any convenient format.”
Zelenskyy further emphasized Ukraine’s commitment to “work quickly” toward ending the war “under the strong leadership” of Trump.
The US initially proposed a deal that would have given it $500 billion in mineral revenues in exchange for aid provided to Ukraine during the war. Zelenskyy, however, declined to sign it, stating that Ukraine had received only $98.5 billion from the US since 2022.
This rejection prompted criticism from Washington, culminating in direct accusations from President Trump.
Subsequent negotiations produced a revised framework establishing a joint Reconstruction Investment Fund, financed through future mineral resource projects, with both nations having equal control. Under this structure, Ukraine would contribute 50% of revenues generated from state-owned natural resources.
In exchange, the US government would support Ukraine’s pursuit of security guarantees deemed necessary for lasting peace.
