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Ukraine and US reach landmark economic deal
Ukraine and the US have reached a landmark economic deal, potentially worth a trillion dollars, that includes joint ownership of a fund and access to rare earth minerals.
ukraine, unnamed road, ivano-frankivs'ka oblast, and forest in Ukraine by Max Kukurudziak (@maxkuk)
Ukraine and the United States have reached a framework agreement on a broad economic deal, paving the way for Ukraine to access rare earth minerals, according to three senior Ukrainian officials. The deal, which could be signed as early as Friday, is expected to ensure the continued flow of US military support to Ukraine.
The agreement would provide joint ownership of a fund between the US and Ukraine, with Ukraine contributing 50% of future proceeds from state-owned resources, including minerals, oil, and gas. Ukrainian President Volodymyr Zelenskyy is expected to travel to Washington to meet with President Donald Trump, where they will discuss continued military aid to Ukraine.
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Trump described the deal as "a very big deal" worth potentially a trillion dollars, highlighting the importance of rare earth minerals. Ukrainian officials noted that the deal has better terms of investment and favorable amendments, viewing the outcome as “positive.”
However, the deal does not include security guarantees, which will be discussed by the two presidents during their meeting. The agreement comes after a week of tense rhetoric between Trump and Zelenskyy over the deal, with Trump calling Zelenskyy “a dictator without elections.”
The progress in negotiations follows a three-day visit to Ukraine by retired Lt. Gen. Keith Kellogg, Trump's special envoy to Ukraine and Russia. The idea was initially proposed by Zelenskyy last fall as part of his plan to strengthen Kyiv's hand in future negotiations with Moscow.
