According to draft documents for the new proposal, Ukraine on Saturday was seriously considering a revised American proposal on a vast array of natural resources, including roughly the same provisions that Kiev previously rejected as being too troublesome.
Some terms seem even more stringent than previous drafts.
Ukraine had not confirmed the deal as of Saturday afternoon, but agreeing to the terms represents surrender to American demand after a week of strong pressure from President Trump. The US president is seeing access to Ukraine's vast mineral wealth as necessary repayments for the billions the United States has provided to Kiev for the war with Russia.
The deal could strip Ukraine of current funds currently invested in the country's military and defense industries, which could help rebuild the country once the war is over.
The terms of the new proposal dated February 21 will be reviewed by the New York Times, which calls for Ukraine to abandon half of its revenues from natural resources such as minerals, gas and oil, and as well as ports and other revenues, infrastructure. .
A similar request was made in an earlier version of the transaction dated February 14th and was reviewed by The Times. Four current and former Ukrainian officials and Ukrainian businessmen who had the conditions for the new proposal explained to them, confirmed that demand did not change.
Ukraine had raised the prospects of a partnership with the US on its valuable natural resources as a way to persuade Trump to provide additional support for war efforts and assurances against future Russian aggression.
Neither new documentation is provided. In particular, President Volodymyr Zelensky was seeking security guarantees for Ukraine, which were not present in the first draft contract presented to him last week.
The revenues will be directed towards funds where the US holds 100% economic benefits, and Ukraine should contribute to the fund until it reaches $500 billion, according to the new document. The country in exchange for US aid.
That total was not mentioned in previous versions of Ukraine's economic output, more than twice as long as it was before the war. It is unclear whether Trump is requesting the total in exchange for past American troops and financial aid, or whether that applies to future support.
The revised proposal states that the US can reinvest a portion of its revenues in Ukraine's postwar reconstruction, including investments in developing the country's underlayer assets and infrastructure.
The new draft agreement also includes provisions for revenue from areas currently occupied by Russia. If released, the percentage of resource income that contributes to the fund from the released region is 66%. Russia currently accounts for about a fifth of Ukrainian territory, including the majority of the resource-rich Donbas region.
Given Zelensky's opposition to previous terms, the deal could be finalized by the end of the day, but could also be delayed.
Keith Kellogg, Trump's special envoy to Ukraine and Russia, visited Kiev from Wednesday to Friday to discuss new proposals with Zelensky.
The potential deal with Ukraine's resources was a major point of conflict in the rapidly deteriorating relationship between Zelensky and Trump. Their interaction was criticized last week for the US president attacked Zelensky in very personal terms and called him an “unelected dictator.”
The Ukrainian president said Trump lived in a “net of disinformation” after Trump falsely claimed that Ukraine had started a war with Russia.
The two people who made new proposals to them said that one of the few changes the US has made that could satisfy Ukraine is the removal of clauses that place contracts under the jurisdiction of New York courts. This provision raised concerns on the part of Ukrainians as it could undermine Ukraine's legal status in the case of a conflict.
According to the German research organization Kiel Institute for the World Economy, the United States has allocated $119 billion for assistance to Ukraine.
The Trump administration suggests that the mere presence of American economic interests in Ukraine will guarantee Kiev's security. Members of the top US cabinets are pushing Zelensky to sign a recent deal.
“President Zelensky is going to sign that contract, and you'll see it in a very short term,” US national security adviser Mike Waltz said Friday. “That's good for Ukraine. What will Ukraine gain more than joining an economic partnership with the US?”
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