Ukrainian President Volodymr Zelensky has agreed to sign over Ukraine’s mineral rights to the U.S. as compensation for the hundreds of billions of dollars given to the European nation for its war against Russia.
After initially rebuffing the Trump administration, Zelensky on Friday reportedly agreed to sign over the country’s mineral rights to the U.S. in exchange for military support.
“This is an agreement that can strengthen our relations, and the key is to work out the details to ensure its effectiveness,” he said in a nightly video address. “I look forward to the outcome—a just result.”
From the Wall Street Journal:
Zelensky was presented with a deal by U.S. Treasury Secretary Scott Bessent in Kyiv last week, but refused to sign, saying the Ukrainian side needed to study it further and that a deal should contain some form of security guarantees for Ukraine.
Ukrainian officials said that they had only a few hours to study it before it was presented to them.
An agreement could be signed as soon as Saturday, although it isn’t yet complete, people briefed on the talks said. The exact terms couldn’t be learned.
Though the exact terms of the deal have yet to be revealed, White House officials say Ukraine would give up 50% of its mineral resources, which include major reserves of iron ore, coal, titanium, lithium, and uranium.
In exchange, Zelensky has demanded “reliable and clear” security guarantees from the U.S. that ensure long-term protection from Russia.
Zelenskyy had previously refused to sign such a deal, prompting Trump to fire off a scathing statement calling the Ukrainian leader a “dictator.”
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