President Volodymyr Zelenskiy voiced his concerns on Saturday regarding a proposed minerals deal with the United States, citing a lack of necessary security provisions for Kyiv. Sources revealed a U.S. proposition suggesting acquiring 50% of Ukraine's critical minerals.
The negotiations highlight the diplomatic challenges faced by Ukraine's leader as he strives to earn support from Donald Trump and ensure post-war security assurances amid Trump's efforts to resolve the conflict with Russia.
During a visit to Kyiv, U.S. Treasury Secretary Scott Bessent presented a draft agreement following Zelenskiy's outline for a deal aimed at attracting U.S. investments into Ukraine's abundant natural resources.
Zelenskiy emphasized the importance of security guarantees intertwined with investments, stating the current U.S. proposal is not aligned with Ukraine's interests or sovereignty. His team emphasizes the need for assurances to deter any potential Russian invasion post-peace agreement.
Despite discussions, Zelenskiy declined to sign the deal when presented with a document proposing U.S. ownership of half of Ukraine's critical minerals. The U.S. proposal, as described by sources, focused on a bold request spanning a variety of resources over a lengthy timeframe.
Trump's interest in obtaining rare earth minerals from Ukraine, which include titanium, uranium, and lithium, has added complexity to the negotiations.
Meetings between Zelenskiy and U.S. delegates at the Munich Security Conference concluded without reaching a definitive agreement. Zelenskiy expressed apprehension about the one-sided nature of the U.S. proposal during a closed-door meeting with U.S. senators.
British Foreign Minister David Lammy emphasized the importance of binding U.S. industry, business, and defense capabilities to ensure Ukraine's security against potential Russian aggression, suggesting that such integration would capture Putin's attention and resonate with a U.S. president focused on achieving favorable deals.