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It reportedly gives the US half the future proceeds from the industry, but says nothing of security guarantees
Kiev has agreed to US President Donald Trump’s minerals deal, Financial Times, Bloomberg and AFP reported on Tuesday. The document could be signed as early as Friday according to AFP, citing an anonymous Ukrainian official.
“Now government officials are working on the details. As of now, we are considering a visit to Washington for Friday to sign the agreement,” the official reportedly said.
Trump had been demanding the “equivalent of $500 billion” worth of natural resources, as compensation for aid provided to Kiev throughout the conflict with Russia. Initially presented by US Treasury Secretary Scott Bessent on a visit to Kiev earlier this month, Ukraine’s leader Vladimir Zelensky rejected the proposal, citing a lack of security guarantees.
FT said that the Ukrainians agreed to sign the deal after the US dropped demands for a right to $500 billion in proceeds from the resources. Kiev had been disputing this figure, insisting that Washington actually provided Ukraine with only $100 billion in aid.
According to the newspaper, the agreement also lacked any mention of US security guarantees, something Zelensky has repeatedly asked for. Binding Kiev to the US via economic ties, however, would provide a de facto security shield, Bloomberg wrote on Tuesday, citing US officials.
The final draft, dated Monday and seen by the outlet, would require Kiev to create a fund and set aside 50% of the revenue from the “future monetization” of its state-owned mineral resources, including oil and gas and related logistics. The fund would invest in Ukrainian industries.
According to FT, this monetization would not cover resources already generating revenue for the Ukrainian government, such as the country’s gas and oil companies Naftogaz or Ukrnafta. However, the document reportedly does not name the size of the stake Washington will hold in the fund. The terms of “joint ownership” deals are to be determined in future agreements, FT wrote.
The agreement stipulates that Washington intends to make a “financial commitment to assist Ukraine,” but the extent of this assistance will be determined at a later date, Ukrainska Pravda wrote on Tuesday.
Kiev officials told FT that the nation’s justice, economy, and foreign ministers approved the deal.
Zelensky will apparently need to get approval from the Ukrainian parliament in the coming days. The nation’s cabinet is expected to recommend signing the deal on Wednesday, Bloomberg wrote, citing anonymous Kiev officials.
