Ukraine and U.S. Near Mineral Deal, But Zelenskyy Pushes for Security Guarantees

Ukraine and the United States are close to finalizing a mineral investment agreement, but President Volodymyr Zelenskyy remains firm on his demand for security guarantees. The deal appears to involve compromises on both sides, with Ukraine leveraging its rare earth mineral resources to attract investment while still seeking stronger defense commitments from the U.S.

The proposed agreement outlines the creation of an investment fund that will utilize Ukraine’s untapped mineral wealth to support reconstruction and security efforts. However, Zelenskyy emphasized that Ukraine’s existing mineral operations will not be used to repay past U.S. military aid—a direct response to Donald Trump’s recent suggestion that Ukraine should “pay back” the assistance it has received.

Ukrainian President Volodymyr Zelenskyy during a news conference in Kyiv on Wednesday.Andrew Kravchenko / Bloomberg via Getty Images

While the economic aspects of the deal seem clear, the security provisions remain uncertain. Zelenskyy expressed frustration, stating, “I strongly advocated for at least some mention of security guarantees for Ukraine,” but details on this aspect remain vague. Meanwhile, Russia has reportedly proposed its own mineral deal to the U.S., offering access to rare earth metals in Russian-occupied Ukrainian territories, raising further geopolitical stakes.

As Ukraine navigates complex diplomatic and economic negotiations, the outcome of this agreement could significantly impact both Kyiv’s war efforts and future relations with Washington.

Source: Daryna Mayer, Artem Grudinin (Kyiv), and Alexander Smith (London)