In a significant development, U.S. President Donald Trump announced on Saturday that the United States is \"pretty close\" to finalizing a pivotal agreement with Ukraine. This proposed deal centers around sharing revenue from Ukraine's rare earth minerals and other natural resources, aiming to support efforts to end the ongoing conflict.
However, sources indicate that the draft deal might \"not be the one President Volodymyr Zelenskyy would accept.\" A source familiar with the negotiations expressed skepticism, stating, \"It is a strange offer to try and take from a country that is a victim of war, more than it costs to pay for its defense.\" Ukrainian state broadcaster Suspline reported that work on the document continued \"all night,\" but progress was hindered by unresolved issues surrounding \"security guarantees.\"
President Zelenskyy has previously rejected demands from the Trump administration for $500 billion in mineral wealth from Ukraine to repay Washington for three years of aid. He emphasized that the U.S. has offered no specific security guarantees in return. Despite these challenges, Zelenskyy confirmed on Friday that teams from both Ukraine and the U.S. are still actively working on reaching an agreement.
The proposed agreement would allow Washington to receive 50 percent of Ukraine's critical minerals, including graphite, uranium, titanium, and lithium—the latter being a key component in electric car batteries. Ukrainians are negotiating amendments to the draft, arguing that it currently \"does not foresee any American obligations, while Ukraine is expected to provide everything.\"
In related efforts to address the conflict, Trump aides, including Secretary of State Marco Rubio and Special Envoy Steve Witkoff, met with senior advisers to Russian President Vladimir Putin in Saudi Arabia for preliminary talks. This meeting faced criticism from Zelenskyy for excluding Ukraine and other European allies. Trump dismissed the criticism, referring to Zelenskyy as negotiating \"with no cards.\" Earlier, Trump urged Zelenskyy to expedite negotiations or risk losing his position, to which Zelenskyy responded, \"I can't sell our country.\"
Rare earth elements are crucial for numerous consumer technologies, from cellphones and hard drives to electric and hybrid vehicles. According to a U.S. official familiar with the negotiations, the deal \"would reduce U.S. dependency on China.\" Professor Cui Zheng from Liaoning University highlighted the strategic importance of rare earth minerals, stating, \"China holds a dominant position in the global rare earth supply chain, while the U.S. relies heavily on imports of critical minerals such as rare earths.\" He added that controlling mineral development rights could ensure the U.S. has the necessary raw materials for military production.
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Trump says close to minerals deal with Ukraine. Will Zelenskyy accept?
cgtn.com
