The United States and Ukraine are close to reaching a deal on Ukrainian mineral rights, The Wall Street Journal reported on 21 February.
The agreement could reportedly be signed today, on 22 February.
“I think they want it. They feel good about it,” President Trump told reporters in the Oval Office on 21 February.
The negotiations follow initial tensions when Ukraine refused to sign a deal presented by US Treasury Secretary Scott Bessent in Kyiv last week. Ukrainian officials said they had only hours to review the proposal. The agreement also lacked security guarantees or assurances of further military aid
“This is an agreement that can strengthen our relations, and the key is to work out the details to ensure its effectiveness,” Ukrainian President Volodymyr Zelensky said in a video address on 21 February. “I look forward to the outcome—a just result.”
According to the WSJ, US special envoy Keith Kellogg played a crucial role in advancing the negotiations during his three-day visit to Kyiv. A source close to the Ukrainian government credited Kellogg with “building trust” with Ukrainian officials.
The exact terms remain unknown. Earlier proposals reportedly included a 50% share of certain mineral deposits, with Trump requesting access to $500 billion worth of minerals. Zelensky called this “excessive,” noting US aid to Ukraine during the war totaled about $100 billion.
The WSJ reports Ukraine possesses Europe’s largest reserves of titanium and lithium, along with rare earth deposits. These resources hold strategic value for the US, particularly given tensions with China and Russia, who control significant mineral reserves globally.
The deal emerges as US and Russian officials begin “peace negotiations” in Saudi Arabia last week without participation of Ukraine and the EU. Zelenskyy expressed concern about being excluded from these talks.
Read also:
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