RFE/RL staff
RFE/RL journalists report the news in 21 countries where a free press is banned by the government or not fully established. We provide what many…
Premium Content
By RFE/RL staff – Feb 24, 2025, 12:00 PM CST
- Ukraine and the United States are in negotiations over a deal that would grant the U.S. rights to Ukraine’s mineral resources.
- Ukrainian President Volodymyr Zelenskyy is seeking security guarantees from the U.S. as a condition of the deal.
- A revised proposal suggests Ukraine contribute revenue from its resources to a U.S.-held fund until it reaches $500 billion.
As Ukraine prepares to mark three years since Russia’s full-scale invasion on February 24, leaders in Kyiv are weighing U.S. proposals for access to Ukrainian mineral resources.
Speaking on February 23, Ukrainian President Volodymyr Zelenskyy said talks with the United States on the matter were “making progress.” The same day, Trump aide Steve Witkoff told CNN that he expected the deal to be signed this week.
But details still need to be ironed out. Zelenskyy mentioned a potential stumbling block, suggesting that clinching the deal would require security guarantees from Washington.
According to another senior Ukrainian politician, a working group will form even as commemorations of the anniversary are taking place.
Ruslan Stefanchuk, speaker of Ukraine’s parliament, has told multiple media outlets that the group would begin working on the agreement text proposed by Washington on February 24.
He added that Ukraine wants to receive specific security guarantees in exchange for signing up, something Ukrainian President Volodymyr Zelenskyy has also suggested.
U.S. President Donald Trump on February 22 said he wants Ukraine to pay back the billions of dollars the United States sent to the country to help it defend against Russia’s full-scale invasion.
“I want them to give us something for all of the money that we put up. We’re asking for rare earth and oil — anything we can get,” Trump said at the Conservative Political Action Conference (CPAC) near Washington. “I’m trying to get the money back or secured.”
Trump made the comments amid negotiations between Washington and Kyiv on a deal that would involve the rights to Ukraine’s mineral resources, including those used to make batteries for electric vehicles and other technology.
Trump’s special envoy for Ukraine and Russia, Keith Kellogg, traveled to Kyiv earlier this week and met with Ukrainian President Volodymyr Zelenskyy, saying afterward that the Ukrainian president understood signing a deal with the United States was “critical.” Kellogg also praised Zelenskyy as “courageous” after the visit.
Trump told supporters at the annual CPAC gathering that he thinks a deal can be reached.
“We’re going to get our money back because it’s just not fair,” he said. “And we will see, but I think we’re pretty close to a deal, and we better be close to a deal,” Trump said.
A proposed deal reportedly would grant the United States rights to Ukraine’s rare earth minerals to make up for U.S. aid given to Kyiv. Zelenskyy reportedly balked at signing the initial deal, but reports on February 22 quoting unidentified Ukrainian officials said he is now seriously considering a revised version of the deal.
Some of the terms appear even tougher than those of the earlier draft, The New York Times reported on February 22. The latest proposal, which the newspaper said it had reviewed, calls for Ukraine to contribute revenue from its resources to a U.S.-held fund until the amount contributed reaches $500 billion, The New York Times said.
Trump’s diplomatic overtures toward Russia, including the possibility of a summit between Trump and Russian President Vladimir Putin, have alarmed Ukraine and Europe over the possibility that the United States would sign a deal unfavorable to them.
The conflict has reached a critical stage just ahead of its third anniversary on February 24 and with Kyiv’s forces slowly ceding ground on the front line.
The Russian Defense Ministry earlier on February 22 claimed the capture of Novolyubivka in the Luhansk region.
By RFE/RL
More Top Reads From Oilprice.com
- Oil Prices Slide After Streak of Gains
- Brookfield Buys National Grid’s U.S. Renewable Business for $1.7 Billion
- Why Gas Prices Have Doubled Over the Last Year
Download The Free Oilprice App Today
RFE/RL staff
RFE/RL journalists report the news in 21 countries where a free press is banned by the government or not fully established. We provide what many…