Kyiv, Ukraine – Ukraine and the United States have finalized a framework for a comprehensive economic agreement centered around access to Ukraine’s rare earth minerals, according to three senior Ukrainian officials familiar with the discussions. The officials, speaking on the condition of anonymity due to authorization limitations, shared that Kyiv is hopeful that the agreement will facilitate ongoing U.S. military assistance crucial to Ukraine’s needs.
Plans are underway to sign the agreement as early as Friday, with intentions for Ukrainian President Volodymyr Zelenskyy to visit Washington to meet with President Donald Trump. The agreement encompasses discussions on continued military aid to Ukraine, a key priority for Kyiv in finalizing the deal.
President Trump mentioned during a media briefing in the Oval Office that he is aware of Zelenskyy’s upcoming visit and expressed willingness to sign the agreement together. Trump further emphasized the significance of the deal, estimating its potential value at around a trillion dollars, particularly emphasizing the importance of rare earths and other resources.
Although some technical aspects of the agreement are still in flux, notably absent from the draft is a controversial Trump administration proposal to claim $500 billion in profits from Ukraine’s rare earth minerals as compensation for past wartime assistance. Instead, the proposed arrangement suggests joint ownership of a fund between the U.S. and Ukraine, with Ukraine committing to contribute 50% of future proceeds from its state-owned resources, including minerals, oil, and gas.
While the deal does not include explicit security guarantees, discussions around this topic are expected to transpire during the upcoming meeting between the two presidents. The progress made in negotiating the agreement follows a period of tense rhetoric between Trump and Zelenskyy concerning the terms of the deal, ultimately leading to fruitful discussions during a recent visit to Ukraine by retired Lt. Gen. Keith Kellogg, serving as Trump’s special envoy to Ukraine and Russia.
Initially proposed by President Zelenskyy last fall as part of a strategy to bolster Ukraine’s position in future negotiations with Moscow, the framework agreement represents a significant step in deepening economic ties between Ukraine and the United States.