Ukrainian President Volodymyr Zelensky is reportedly holding back from signing a minerals agreement with Donald Trump, raising concerns over the deal’s financial impact on Ukraine’s economy.
Stalled negotiations over mineral rights
A Ukrainian source told Sky News that the agreement remains incomplete, with several unresolved issues. The source stated that the deal, in its current form, does not reflect a fair partnership and includes commitments only from Ukraine.
Despite these concerns, Zelensky acknowledged in a nightly video address that negotiations with US officials are ongoing. He expressed optimism about reaching a just agreement that could strengthen relations between the two nations.
Trump, speaking from the Oval Office, was more direct, saying he expects the agreement to be finalized soon. While specific terms remain unclear, the US president has reportedly pushed for Ukraine to provide $500 billion worth of critical minerals in exchange for continued military aid.
US pressure and rising tensions
Negotiations have been fraught with tension, with reports indicating that Trump threatened to cut all US funding to Ukraine if the deal was not signed. Reuters also revealed that American officials warned Kyiv that access to Elon Musk’s Starlink satellite network, which has been vital for both civilian and military operations, could be restricted if Ukraine did not agree to the deal.
Zelensky’s stance has frustrated US negotiators, including JD Vance, Marco Rubio, Treasury Secretary Scott Bessent, and National Security Advisor Michael Waltz. A senior White House official criticized Zelensky’s approach, claiming he had become too focused on his public image rather than diplomatic realities.
Ukraine’s vast resources at stake
Ukraine is home to some of Europe’s largest reserves of titanium, lithium, and other rare earth minerals, all crucial for industries like aerospace, defense, and clean energy. The US is particularly interested in securing these resources amid rising tensions with China, which dominates global mineral production.
While Zelensky initially rejected the deal, calling it unfair to Ukraine, negotiations have reportedly progressed with the help of retired Lt. Gen. Keith Kellogg, Trump’s envoy to Ukraine. Following their meeting in Kyiv, Zelensky acknowledged Kellogg’s efforts, stating that his work “restores hope” for an agreement.
Security guarantees remain a sticking point
One of Ukraine’s key concerns is the lack of security commitments in the deal. Officials have warned that the current proposal lacks clear long-term guarantees from the US. Additionally, leaked details of the draft contract suggest that it includes not only mineral rights but also revenues from oil, gas, ports, and infrastructure.
An analysis by The Telegraph suggested that the financial burden placed on Ukraine under the agreement could surpass the reparations imposed on Germany after World War I. Zelensky has remained firm in his demand that Ukraine’s natural resources not be exploited without significant protections for the country’s sovereignty and economy.
With negotiations still ongoing, the fate of the deal remains uncertain as both sides push for their interests.
