Axios reports that US President Donald Trump’s administration has provided Ukraine with an “improved” draft minerals agreement following President Volodymyr Zelenskyy’s rejection of the initial proposal, according to a Ukrainian official, a US official, and three sources with knowledge. The previous rejection sparked a diplomatic crisis between the two countries.
The disagreement over minerals has contributed to a larger rift in relations, with President Trump publicly denouncing Zelenskyy as a “dictator” who chose war with Russia, while Zelenskyy accused Trump of accepting Russian “disinformation.”
However, sources from both countries now indicate that an agreement is becoming more likely. A source with knowledge of the situation told Axios that several of Zelenskyy’s aides have encouraged him to sign the updated proposal to prevent further conflict with Trump and to provide the US president with justification for continuing American support for Ukraine.
“There was significant improvement in the recent draft and it is in conformity with Ukrainian law,” the source said.
US National Security Adviser Mike Waltz told reporters on 20 February that Zelenskyy needed to “come back to the table” on the minerals issue.
“This is a negotiation. And in a negotiation, you negotiate. Ukraine wants to negotiate minerals, so we’re talking about it,” a White House official said, according to Axios.
Trump’s mineral deal demands higher GDP share from Ukraine than Germany’s WWI reparations
- The concept of an economic partnership between Ukraine and the US was initially proposed by Zelenskyy during a meeting with Trump in New York last September.
- Last week, hours before Treasury Secretary Scott Bessent’s meeting with Zelenskyy in Kyiv, the US ambassador delivered a draft mining deal. Two sources said it allocated 50% of revenues to the US, fell under New York court jurisdiction, and overrode Ukraine’s trade agreements. During the meeting, Bessent said Trump demanded immediate signature, but Zelenskyy refused, citing lack of review time.
- Ukrainians were disappointed that the US draft lacked security guarantees and was proposed while Ukraine was excluded from US-Russia talks on its future. They were also surprised by Trump’s public criticism of Zelenskyy, including remarks about rejecting the minerals deal.
- Several days later, US Vice President Vance and Secretary of State Marco Rubio presented Zelenskyy with a less binding memorandum of understanding in Munich, a Ukrainian official told Axios. Zelenskyy told them he couldn’t sign without parliamentary approval, as required by Ukraine’s constitution.
A Ukrainian official, a US official, and two sources with knowledge told Axios that negotiations have continued in recent days, with the US presenting Ukraine with an updated version addressing some of Zelenskyy’s concerns.
Another source said certain articles that had concerned the Ukrainians – including the stipulation that the deal would be under New York court jurisdiction – were removed from the updated draft, according to Axios.
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