US and Ukraine close to finalizing mineral rights agreement

22 Feb 2025 14:59
22 Feb 2025 15:19

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US and Ukraine close to finalizing mineral rights agreement

Photo: AP

The US and Ukraine are nearing the finalization of a deal that would grant the US valuable mineral rights, a move the Trump administration has pushed for as compensation for military aid provided to help Ukraine defend itself against Russia's invasion, according to a new report.

An agreement could be finalized as early as Saturday, though negotiations are still ongoing, the Wall Street Journal said Friday, citing sources familiar with the negotiations. The specific terms of the deal remain unclear, News.Az reports citing foriegn media.

Ukraine initially refused to sign the agreement earlier this week, leading to tensions between President Trump and Ukrainian President Volodymyr Zelenskyy and raising concerns about a potential rift between Washington and Kyiv.

In a nightly video address on Friday, Zelenskyy signaled progress, saying US and Ukrainian negotiators were working on a draft agreement.

“This is an agreement that can strengthen our relations, and the key is to work out the details to ensure its effectiveness,” he said. “I look forward to the outcome—a just result.”

US Treasury Secretary Scott Bessent presented Zelenskyy with a proposal during a visit to Kyiv last week. However, Ukraine declined to sign at the time, citing the need for further review and a request for security guarantees. Ukrainian officials noted they had only a few hours to examine the proposal before it was formally presented.

“I think they want it. They feel good about it," US President Trump told reporters in the Oval Office on Friday when asked about a potential mineral rights deal with Ukraine.

Zelenskyy's initial rejection of the proposal from Bessent led to escalating tensions, with Trump calling Zelenskyy a “dictator” after the Ukrainian leader suggested Trump was influenced by Russian disinformation.

On Thursday, retired Lt. Gen. Keith Kellogg, Trump's Ukraine envoy, met Zelenskyy in the Ukrainian capital Kyiv — a meeting the Ukrainian president later described as one that “restores hope.” Zelenskyy said he instructed his team to work “swiftly and very sensibly” on the negotiations.

According to a source close to the Ukrainian government, Kellogg played a key role in finalizing the deal's terms by building trust with Zelenskyy and other officials during his three-day visit to Kyiv.

The dispute raised concerns among US allies that Trump might withdraw support from Ukraine, which has depended on American military and financial aid for three years to defend against Russia.

Trump is pushing for a swift end to the war between Russia and Ukraine. Senior US and Russian officials met in Saudi Arabia on Tuesday and agreed to form teams to negotiate a settlement.

However, Zelenskyy expressed frustration over being excluded from the talks, saying Ukraine would not accept any deal it was not involved in negotiating.

News.Az