Ukraine and the United States worked through the night until Friday morning on a draft agreement concerning rare earth minerals, according to a source in Ukraine’s Presidential Office. The US administration views the agreement as part of broader negotiations with Russia to end the war in Ukraine.
“The teams worked until morning. However, it’s too early to say the draft agreement has been improved in Ukraine’s favor. Certain security issues still need addressing,” the source told Suspilne.
According to a senior US official who spoke to Axios, the Trump administration sent Kyiv an updated version of the agreement on Thursday. The official stated that this modified version aimed to “fix the situation” between the two countries.
National Security Advisor Mike Waltz expressed confidence that President Zelenskyy will sign the minerals deal.
“Well, look, here’s the bottom line. President Zelenskyy is going to sign that deal, and you will see that in the very short term. And that is good for Ukraine. What better could you have for Ukraine than to be in an economic partnership with the United States?” he asked.
The negotiations follow Zelenskyy’s rejection of Trump’s initial proposal last week. According to The Telegraph, the original deal extended beyond minerals access to include ports, infrastructure, and energy sectors. After those initial talks, Zelenskyy stated he could not “sell” his country.
Timeline of negotiations
- 3 February: President Trump publicly stated the US wanted access to Ukraine’s rare earth metals in exchange for military aid.
- 10 February: Trump claimed Ukraine had “essentially agreed” to grant access to minerals worth $500 billion as compensation for military assistance.
- 12 February: Zelenskyy confirmed US Treasury Secretary Scott Bessent had delivered a draft agreement proposing this exchange.
- 14 February: Ukraine submitted a revised draft memorandum to the US.
- 15 February: At the Munich Security Conference, Zelenskyy revealed he refused to sign the deal, citing a lack of security guarantees.
Read more:
- Ukraine declines US proposal for 50% ownership of rare earth minerals in exchange for aid without security guarantees
- Axios: US offers Ukraine “improved” minerals deal after Trump-Zelenskyy clash
- Reuters: Trump administration may seek simplified minerals deal with Ukraine