Ukraine's President Volodymyr Zelensky will reportedly travel to Washington, DC in the coming days, after the United States and Ukraine agreed to terms on a deal over natural resources and reconstruction, according to a Ukrainian official.
Negotiations have been ongoing for days over a deal that could grant the US access to Ukraine’s rare earth minerals as part of wider negotiations to end Russia’s invasion, as well as US involvement in a reconstruction fund for Ukraine.
According to Reuters, a Ukrainian official said the terms were agreed upon after “everything unacceptable was taken out of the text and it is now more clearly spelt out how this agreement will contribute to Ukraine’s security and peace.”
Details of the agreement are not yet known, but a major sticking point had been a demand from the Trump administration for a $500 billion share of Ukraine’s rare earth and other minerals in exchange for the aid the US had already provided Kyiv, which was previously rejected by Zelensky.
As at press time, the US has not confirmed whether the terms of a deal have been agreed.
“I hear that (Zelensky is) coming on Friday. Certainly, it’s OK with me if he’d like to, and he would like to sign it together with me. And I understand that’s a big deal, very big deal,” US President Donald Trump said from the Oval Office on Tuesday, February 25.
Asked what Ukraine would receive in the mineral deal, Trump said: “$350 billion and lots of equipment, military equipment, and the right to fight on.”
“We’ve pretty much negotiated our deal on rare earth and various other things,” Trump told reporters, adding that “we’ll be looking to” future security for Ukraine “later on.”
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“I don’t think that’s going to be a problem,” Trump said. “I spoke with Russia about it. They didn’t seem to have a problem with it. So I think they understand … once we do this, they’re not going back in.”
Ukraine has been pushing for security guarantees, with Kyiv not only keen to see the return of lost territory but also protection against a possible future Russian attack if a peace deal is agreed on.
European leaders have also stressed the necessity for security guarantees for Ukraine as a condition for any future peace talks between Moscow and Kyiv. Following his meeting with Trump, French President Emmanuel Macron on Monday proposed boosting Ukraine’s military capabilities, and if requested to deploy British and French troops to keep the peace.
British Prime Minister Keir Starmer, who will visit the White House on Thursday, has said a US “backstop” is needed for any Ukraine peace deal, which could potentially include security guarantees, American intelligence cooperation, air support and heavy lift transport.
According to CNN, a source said at the weekend that Zelensky could not accept an earlier version of the deal because it contained no American “obligations” while Ukraine was “expected to provide everything.”
During a visit to the White House on Monday, Macron commended Trump for his “decision to work with President Zelensky, and to conclude this agreement that’s so important for the US and Ukraine on rare earths, critical minerals.”
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