Ukraine and the United States are on the verge of finalizing a deal that would grant American companies access to Ukraine’s vast mineral resources in exchange for continued military and financial support.
According to The Wall Street Journal, negotiations are in the final stages, and an agreement could be signed as soon as Saturday. However, the exact terms of the deal remain unclear.
The report states that U.S. Treasury Secretary Scott Bessent presented the proposal to Ukrainian President Volodymyr Zelenskyy during a meeting in Kyiv last week.
However, Zelenskyy initially refused to sign, citing the need for further review and additional security guarantees for Ukraine. Ukrainian officials reportedly had only a few hours to assess the deal before it was formally offered. Despite initial hesitation, sources familiar with the negotiations indicate that an agreement is now close to completion.
Ukraine is home to a wealth of critical minerals, including significant reserves of iron ore, coal, titanium, lithium, and uranium. These resources play a vital role in steel production, energy supply, and advanced technological industries.
Given their strategic importance, Ukraine’s mineral wealth has been a key factor in Russia’s ongoing invasion. By securing access to these materials, the U.S. aims to both strengthen Ukraine’s economy and ensure a return on the substantial financial aid provided to Kyiv.
Zelenskyy appeared to confirm the ongoing discussions in a video address on Friday evening. “This is an agreement that can strengthen our relations, and the key is to work out the details to ensure its effectiveness,” he stated. “I look forward to the outcome—a just result.”
However, the Ukrainian president had previously resisted signing such an agreement, which led to tensions with former President Donald Trump. The disagreement escalated into a heated exchange, with Trump reportedly calling Zelenskyy a “dictator” over his reluctance to approve the deal.
Speaking from the Oval Office on Friday, Trump suggested that Ukraine is now more receptive to the proposal. “I think they want it,” he told reporters. “They feel good about it.”
Secretary of State Marco Rubio further elaborated on the reasoning behind the agreement, emphasizing that it serves both economic and security interests for the U.S. and Ukraine. “We discussed this issue about the mineral rights, and we explained to them, look, we want to be in a joint venture with you—not because we’re trying to steal from your country, but because we think that’s actually a security guarantee,” Rubio said in an interview with journalist Catherine Herridge.
🚨NEW: Marco Rubio claims that President Zelenskyy acted two-faced with him and President Trump and warns him not to hustle the United States.
— Autism Capital 🧩 (@AutismCapital) February 21, 2025
RUBIO: "We discussed mineral rights with Zelenskyy and said we want to be in a joint venture with you because we think we need a… pic.twitter.com/Tczl8KEnwl
Rubio also pointed out that the U.S. has provided nearly $200 billion in aid to Ukraine, and securing a stake in its mineral industry would allow for some financial returns. “If we’re your partner in an important economic endeavor, we get to get paid back some of the money the taxpayers have given,” he said. “And also now we have a vested interest in the security of Ukraine.”