Report: US, Ukraine Reach Mineral Rights, Security Deal
https://www.newsmax.com/newsfront/us-ukraine-mineral-rights/2025/02/25/id/1200441/
Tuesday, 25 February 2025 03:10 PM EST
The Trump administration and Ukraine reportedly have reached a deal on mineral rights that could pave the way to a long-term security commitment to the war-torn nation in exchange for helping the U.S. recoup the billions of dollars in humanitarian and military aid it provided since Russia's invasion three years ago.
Ukrainian officials said they are now ready to sign the agreement on jointly developing the nation's mineral resources, including oil and natural gas, after the U.S. dropped demands for $500 billion in potential revenue from mining the resources, The Financial Times reported Tuesday.
During his meeting with French President Emmanuel Macron at the White House on Monday, President Donald Trump indicated the deal was close to be completed and that Ukraine President Volodymyr Zelenskyy could visit Washington, D.C., this week or next to sign the deal.
Trump addressed the issue in a post on Truth Social on Monday after a virtual meeting involving the Group of Seven nations, writing in part, "I emphasized the importance of the vital 'Critical Minerals and Rare-Earths Deal' between the United States and Ukraine, which we hope will be signed very soon!
"This deal, which is an 'Economic Partnership,' will ensure the American people recoup the Tens of Billions of Dollars and Military Equipment sent to Ukraine, while also helping Ukraine's economy grow as this Brutal and Savage War comes to an end."
The draft agreement, according to Axios, called for the establishment of a "Reconstruction Investment Fund" that will be co-managed by the U.S. and Ukraine. Axios reported Monday that the draft agreement it viewed was the most recent version, but it could still be amended.
The agreement stipulated the fund will be designed to invest in projects in Ukraine and attract investments to increase development, including in areas like mining and ports. But it also suggests the U.S. will recoup some of its expenditures related to "defending, reconstructing, and returning Ukraine" to its pre-war gross domestic product.
Tensions between the U.S. and Ukraine have escalated in recent weeks, with Zelenskyy expressing frustration over the U.S. negotiating with Russia first on a deal to end the war, and Trump calling Zelenskyy a "dictator" for cancelling elections and blaming Kyiv for starting the war.