Ukrainian President Volodymyr Zelensky is set to meet with US President Donald Trump in Washington on Friday to finalize an agreement on the exploitation of Ukraine’s mineral resources, Trump announced.
Zelensky referred to the deal as preliminary and expressed his hope for additional agreements, particularly those involving US security guarantees to counter future Russian aggression.
However, Trump downplayed the likelihood of extensive security commitments, stating that responsibility for Ukraine’s defense should primarily rest with Europe. He also appeared to dismiss the possibility of Ukraine joining NATO, a long-standing goal for Zelensky.
US-Ukraine Minerals Agreement and Security Considerations
During a cabinet meeting on Wednesday, Trump suggested that the presence of American companies extracting rare earth minerals in Ukraine would serve as a form of "automatic security" for the country. He urged Kyiv to abandon its aspirations for NATO membership, reiterating Russian claims that Ukraine's NATO ambitions were a key factor in the war.
Trump also hinted that a ceasefire between Ukraine and Russia could be imminent, telling reporters, "We're going to make a deal with Russia and Ukraine to stop the killing."
Zelensky, however, stressed that without concrete security guarantees, a ceasefire would be ineffective. "I want to find a NATO path or something similar," he stated.
Disagreements Over the Deal's Terms
Russia has consistently opposed Ukraine's NATO membership, citing security concerns over NATO forces potentially moving closer to its borders. In 2008, the alliance had indicated that Ukraine could eventually join, but Trump's stance suggests this possibility is now even more uncertain.
Trump has proposed deploying European peacekeeping forces in Ukraine as part of a ceasefire arrangement, though Russia has voiced strong opposition to the idea.
Zelensky has linked the success of the minerals deal to his upcoming meeting with Trump. While the full details remain undisclosed, Ukrainian Prime Minister Denys Shmyhal revealed that the agreement includes provisions for an "investment fund" dedicated to Ukraine's post-war reconstruction.
The initiative was first proposed by Zelensky last year as a way to give the US a tangible incentive to continue supporting Ukraine. However, disagreements over the deal’s scope have fueled tensions between Trump and Zelensky in recent weeks.
Initially, Ukraine rejected a US demand for $500 billion (£395 billion) worth of mineral resources, though reports suggest this demand has now been dropped. Additionally, both sides have framed the deal differently—Trump hailing it as a "very big agreement" that will allow the US to recoup its financial aid to Ukraine, while Zelensky refers to it as a "framework agreement" with room for further negotiations.
Geopolitical Implications and Resource Access
Trump has expressed his desire for a swift resolution to the war and has sought to reestablish dialogue with Russia. Following a phone call with Russian President Vladimir Putin, both countries sent delegations to Saudi Arabia for bilateral talks, excluding Ukraine from the discussions.
Zelensky criticized this move, accusing the US of aiding Putin in ending Russia’s diplomatic isolation. He also claimed that Trump was engaging with "Russian disinformation."
Ukraine is rich in natural resources, accounting for approximately 5% of the world’s "critical raw materials," according to Kyiv. However, accessing these resources poses challenges. A significant portion of Ukraine's mineral deposits is currently under Russian control. Ukrainian Economy Minister Yulia Svyrydenko estimated that around $350 billion (£277 billion) worth of resources are in Russian-occupied territories.
Additionally, large parts of Ukraine’s land remain heavily mined. Experts warn that clearing these unexploded munitions must be a priority before the US can proceed with extraction projects. Currently, about 25% of Ukraine's territory is believed to be contaminated with landmines, predominantly in the conflict-ridden eastern regions.
Meanwhile, Putin has indicated that Russia is open to supplying the US with rare minerals, including those extracted from Russian-controlled parts of Ukraine.
UK's Role in Ongoing Discussions
UK Prime Minister Sir Keir Starmer is also scheduled to meet separately with both Trump and Zelensky this week to discuss the conflict in Ukraine. He is expected to arrive in Washington later on Wednesday.
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