Ukraine and U.S. Forge Key Minerals Deal Amid Ongoing War Impact

A senior Ukrainian official confirmed that Ukraine has finalized terms for a minerals deal with the U.S., which includes access to critical resources despite debates about military aid and financial returns.

Ukraine has secured the terms of a significant minerals deal with the United States, according to a senior official in Kyiv speaking to the BBC. The official emphasized that the agreement includes beneficial amendments, though specifics were not disclosed. Reports indicate that Washington has relaxed prior demands for a substantial financial stake in Ukraine’s mineral resources, yet it has not provided concrete security guarantees—an essential request from Ukraine amid ongoing conflict with Russia.

The announcement comes as U.S. President Donald Trump expects Ukrainian President Volodymyr Zelensky to travel to Washington to formalize the agreement after previously exchanging harsh rhetoric. Last week, Trump labeled Zelensky a "dictator" and implicated Ukraine in the war's initiation, which Zelensky later refuted by suggesting that Trump was misled by Russian disinformation. Furthermore, Trump has been advocating for accessing Ukraine’s minerals in exchange for military support since the onset of a full-scale invasion by Russia three years prior.

In remarks made on Tuesday, Trump asserted that the U.S. had provided Ukraine with between $300bn and $350bn, suggesting the need for a reciprocal return of these resources. This sentiment reflects a significant change in U.S. foreign policy, indicating a shift away from unconditional humanitarian or strategic aid.

Ukraine's Deputy Prime Minister Olha Stefanishyna mentioned to the Financial Times that the deal forms part of a broader strategy discussed with the U.S. Negotiations seem to reveal that the U.S. has stepped back from some of its previously stringent demands, although multiple elements of the agreement may require additional discussion.

Additionally, reports from Ukrainian news outlets indicate that the minerals pact, due to be signed by Ukrainian Foreign Minister Andrii Sybiha alongside U.S. Secretary of State Marco Rubio, is expected to be accompanied by the establishment of a reconstruction investment fund.

Ukraine is endowed with substantial mineral resources, such as lithium, titanium, and considerable coal, gas, oil, and uranium reserves—resources valued in the billions. President Zelensky had suggested a "victory plan" to allow foreign firms to access these minerals post-war.

In a related development, Russian President Vladimir Putin has expressed willingness to offer the U.S. access to rare minerals located within Russian-occupied Ukrainian territories, flaring concerns in Ukraine and Europe over a potential decrease in their influence in peace negotiations. The situation reflects a precarious balance as both nations navigate their interests in this critical sector.