U.S. seeks game-changing minerals pact with Ukraine, sources reveal
US is prodding broader minerals agreement with Ukraine, sources indicate. According to proposal all revenue from use of natural resources would be shared by Kyiv in joint fund.
March 27 - The Trump administration has tabled a new, broader minerals agreement with Ukraine, three sources close to the negotiations and a copy of a draft proposal reviewed.
Economic and Geopolitical Implications
The U.S. has modified its initial offer, the sources stated, and it offers Ukraine no long-term security assurances but asks that it pay into a joint investment fund all revenue from the exploitation of natural resources controlled by state and private companies throughout Ukrainian soil. The conditions proposed by Washington far exceed the agreement under consideration in the days leading up to the disputed Oval Office meeting last month between U.S.Treasury Secretary Scott Bessent has been spearheading US negotiations, according to one of the sources.
Strategic Partnership or Resource Grab
The plan does not mention the U.S. assuming control of Ukraine's nuclear power plants, at least according to the summary - something Trump had discussed. Trump has indicated that a minerals agreement will assist in securing a peace deal by providing the United States with an economic interest in Ukraine's future. He also views it as America's means of recouping some of the tens of billions of dollars it has provided to Ukraine in financial and military assistance since Russia's invasion three years ago. National Security Council spokesman James Hewitt refused to verify the terms of the most recent proposal, but indicated that the agreement would deepen ties between the U.S. and Ukraine. United States Treasury Secretary Scott Bessent has been conducting the negotiations for the United States, according to one of the sources.
Rare Earth Rivalry
The proposal does not mention the U.S. taking over Ukraine's nuclear plants, as stated by the summary - something Trump had spoken of. Trump said that a minerals agreement will help lock in a peace agreement by giving the United States a financial stake in the future of Ukraine. He also sees it as America's way of getting back some of the tens of billions of dollars it has given to Ukraine in economic and military assistance since Russia's invasion three years ago. National Security Council spokesman James Hewitt declined to confirm the most recent offer's terms, saying only that the agreement would strengthen the U.S.-Ukraine relationship. Another source close to the negotiations said there had been discussion about having the DFC manage the fund.
