President Donald Trump is reportedly moving closer to securing a deal that would grant the U.S. substantial mineral rights in Ukraine. This comes amid escalating tensions between the two nations.
What Happened: On Friday, Trump expressed optimism about finalizing an agreement that could potentially bring $500 billion to the U.S. as part of a broader strategy to align with Russia to end the ongoing conflict in Ukraine, according to a report by the New York Times.
"So, we're signing an agreement, hopefully in the next fairly short period of time," he said, according to the report.
Meanwhile, Ukrainian President Volodymyr Zelensky confirmed that efforts are underway to draft an agreement, aiming to ease tensions with the U.S. over the proposed deal.
"This agreement can add value to our relations — what matters most is getting the details right to ensure it truly works," he said in a post on X, formerly Twitter.
Trump is focusing on securing rare earth and other minerals from Ukraine in exchange for American support. The negotiations have seen Ukraine strengthening its position as the U.S. and Russia engage in talks to end the conflict.
Despite initial resistance, some Ukrainian officials have advised Zelensky to proceed with the deal after addressing concerns over mineral profits and security commitments.
As negotiations continue, Zelensky remains focused on ensuring the agreement’s effectiveness, while simultaneously seeking support from European allies to fill potential gaps if U.S. backing wanes.
Why It Matters: The ongoing negotiations over Ukraine’s mineral rights have been contentious, with the U.S. reportedly threatening to cut Ukraine’s access to SpaceX’s Starlink satellite internet service as a bargaining chip. This move followed the rejection of an initial proposal by U.S. Treasury Secretary Scott Bessent.
Earlier, Trump had warned Zelensky to negotiate an end to Russia’s invasion swiftly or risk losing Ukraine entirely. In a Truth Social post, Trump labeled Zelensky a “dictator without elections,” accusing him of misusing U.S. aid.
Ukraine had previously rejected Trump’s offer to take 50% ownership of its rare earth minerals, calling it a “colonial agreement.” As negotiations continue, the outcome of this deal could significantly impact U.S.-Ukraine relations and the broader geopolitical landscape.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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