Ukraine and the US are locked in an agreement that Washington grants a percentage of Kiev's revenue from natural resources, President Trump and Ukrainian officials made a deal on Monday after a fierce pressure campaign from the US president He said he would tie it.
Trump said Ukrainian President Volodimia Zelensky might come to the White House this week or next week to sign the agreement. “The contract is now underway, Trump said at the White House on Monday.
Earlier that day, Ukraine's Deputy Prime Minister, Orha Stefanishna, posted to X that “Ukraine and the US team are in the final stages of negotiations on the mineral agreement.”
The version of the contract discussed on Monday, reviewed by the New York Times, contained more favorable terms for Ukraine than the previous draft, but Ukraine struggled to fight Russian invasions. The security guarantees we requested were not included.
The four who were briefed on the contract and spoke about the terms of anonymity to discuss confidential negotiations, said that they are the conditions under discussion. The two people said talks were still underway as of Monday evening. Therefore, the terms of transactions that were not final may still evolve.
The issue of mineral wealth is tied to conflicts over US military and financial aid to Ukraine, as well as how to end the war. Zelensky said Ukraine must support Western arms and peace agreements to prevent future Russian attacks, but Trump quickly puts the war on the line without providing such security guarantees. He insisted it had to be finished.
“This economic agreement with Ukraine is not a guarantee of future aid for the war and will not include the commitment of local US officials,” a White House official said Monday.
On Monday, Russian President Vladimir V. Putin also appealed to Trump's interest in natural resources, saying that he told a state television reporter that the deposits of rare earth minerals used in high-tech production in Russia were “more than Ukraine.” It's big,” he said. He said Russia could work with American companies to help develop their deposits, even within Ukraine under Russian occupation.
The Times saw the draft US-Ukraine deal no longer includes the demand that Ukraine commit to giving the US $500 billion in revenue generated from natural resources, including oil, gas and minerals. did.
The White House describes the demand as compensation for past American military and financial aid, but said Ukraine would bring a huge financial burden to future generations.
Ukraine also does not need to repay twice the value of future American aid, one of the conditions of the previous draft.
However, the version obtained by the Times showed that the US does not provide security guarantees to stop further Russian attacks that Ukraine has been demanding.
The US-backed security assurance request was a permanent demand for Zelensky. The lack of guarantee was one reason why Ukrainian leaders refused to sign the draft previous agreement.
Last week, Trump appears to have called Zelensky a “dictator” and falsely accused Ukraine of starting a war, and on Monday his administration was backed by most US allies called Russia. He opposed the resolution.
The Times document dated February 24 lists Trump and Zelensky as necessary signatories.
Under the terms of the proposed agreement, Ukraine will abandon half of its revenue from future monetization of its natural resources. These revenues are directed to funds that hold the largest percentage of financial profits permitted under US law, but not necessarily all.
These regulations are improvements for Ukraine. The previous draft agreement dated Saturday said the US will have 100% interest on the fund and Ukraine will contribute to revenue from both current and future natural resource extraction projects.
Instead, the new draft agreement states that the fund will reinvest Ukraine's revenue, but at any rate it remains unknown and is designed to attract further investments. It also said that the US will maintain long-term support for Ukraine's economic development.
The White House argued that the mere presence of American economic interests in Ukraine would thwart future Russian invasions, even without the specific guarantees spelled out in the deal.
“What would be better for Ukraine than joining an economic partnership with the US?” US national security adviser Mike Waltz said Friday.
Maggie Haberman contributed the report.
