Zelensky to Washington on Friday to Sign Minerals Deal
Ukrainian President Volodymyr Zelensky is set to visit Washington this Friday to sign a significant agreement with the United States, allowing the exploitation of Ukraine’s mineral wealth. This comes as European leaders meet virtually today, Wednesday, to discuss the possibility of declaring a truce in the ongoing three-year conflict with Russia.
The deal, which has been in negotiation, could mark a turning point for Ukraine’s economy. On Tuesday, when asked about the upcoming signing, U.S. President Donald Trump remarked, “I heard he’s coming on Friday, which is certainly good for me. He wants to sign with me, and I get that… It’s a big deal, a very big deal.”
Trump had previously urged Ukraine to grant the U.S. access to its mineral resources as compensation for billions of dollars in aid provided during his predecessor Joe Biden’s administration. Ukraine, rich in rare minerals, has agreed to the terms after intense discussions.
A Ukrainian official, speaking anonymously to Agence France-Presse (AFP):
Revealed that the agreement involves the U.S. developing Ukraine’s rare mineral resources. The revenue generated will flow into a newly established “joint Ukraine-U.S. fund.” The official noted that Ukraine secured a favorable deal after Washington agreed to “remove all clauses that didn’t suit us, especially those tied to the $500 billion figure” that Trump initially claimed the U.S. would earn from the minerals.
As part of the negotiations, Ukraine sought security guarantees from the United States. The draft agreement includes a reference to “security,” though it stops short of explicitly defining the U.S.’s role, according to the source.
