Ukraine has agreed on the terms of a mineral deals with the United States and could sign it this week, officials in the two countries said on Tuesday.
Under the agreement, the United States would “jointly develop” Ukraine’s mineral wealth, with the revenues going to a newly created “joint fund for Ukraine and America”, a Ukrainian official told news agency AFP.
According to the official, the draft of the deal includes a reference to “security”, but does not explicitly state the US’ commitments, one of Ukraine’s prior demands for an agreement.
“There is a general clause that says America will invest in a stable and prosperous sovereign Ukraine, that it works for a lasting peace, and that America supports efforts to guarantee security. Now, the government is working on the details,” the official said.
He added that Ukrainian President Volodymyr Zelensky could sign the deal on a trip to Washington as early as Friday.
Later, US President Donald Trump confirmed Volodymyr Zelensky would be visiting, and mentioned a “very big deal.”
“I hear that. I hear that he’s coming on Friday. He would like to sign it together with me, and I understand that. Tt’s a big deal, a very big deal,” Donald Trump told reporters at the White House.
‘US removed all clauses that didn’t suit us’
The Ukrainian official claimed the US has removed all clauses that “do not suit” the war-torn nation, including the “$500 billion reference.”
Zelensky had earlier dismissed Trump’s demands to give the US $500 billion worth of valuable minerals used in aerospace, electric vehicles and other technologies, a sum far above the official figure of $60 billion military aid by the US since the ongoing war with Russia began in February 2022.
On his part, Trump did not answer directly when asked what Ukraine would get in return, and instead accused the previous Joe Biden administration of “throwing money around like it’s cotton candy.”