KYIV (Reuters) – Ukraine announced on Wednesday that it had reached a “preliminary” agreement to transfer revenue from certain mineral resources to the United States ahead of an anticipated visit to Washington by President Volodymyr Zelenskiy on Friday. The agreement holds significant importance for Ukraine in its efforts to secure strong backing from U.S. President Donald Trump as he pushes for a prompt resolution to Russia’s ongoing conflict in Ukraine. Talks between the U.S. and Russia, excluding Kyiv, are scheduled to proceed on Thursday.
President Zelenskiy emphasized, “The key point for me is that we do not owe any debt. There is no $500 billion debt in the agreement, nor $350 billion, nor $100 billion, as that would be unjust.” Trump has framed the deal as a reimbursement for the substantial financial aid provided to Ukraine during the conflict. While Zelenskiy has sought security assurances in exchange for the mineral rights, it remains uncertain whether his demands have been met.
Zelenskiy stated, “This agreement is a part of our broader engagements with the United States. It could potentially lead to future security assurances… An agreement is an agreement, yet we must comprehend the bigger picture.” He added, “The success of this deal could be significant or it might transpire quietly. Achieving great success hinges on our discussions with President Trump.”
Ukrainian Prime Minister Denis Shmyhal mentioned that under the finalized agreement, Washington would pledge to support Kyiv’s endeavors to secure security guarantees. However, the U.S. has not presented any security commitments of its own. Concurrently, while negotiations on the mineral deal have been ongoing, bilateral discussions have commenced between Washington and Moscow.
Russian Foreign Minister Sergei Lavrov highlighted that the talks planned for Thursday in Istanbul would focus on resolving bilateral disputes that are part of a broader dialogue essential for ending the conflict in Ukraine.
President Trump disclosed to reporters on Tuesday that Zelenskiy was eager to visit Washington on Friday to finalize a “very significant agreement.” Shmyhal stated that the Ukrainian government would authorize the agreed-upon terms later on Wednesday for finalization. He described it as a “preliminary” arrangement.
A draft agreement, dated February 25 and reviewed by Reuters, indicated, “The Government of the United States of America supports Ukraine’s efforts to obtain the security guarantees necessary for establishing lasting peace.” Shmyhal explained on television that Kyiv would contribute 50% of all future revenues derived from the monetization of relevant state-owned natural resource assets and infrastructure. These funds would be placed in a joint U.S.-Ukraine-controlled fund, with decisions regarding the fund’s governance requiring Kyiv’s consent.
Shmyhal emphasized, “Existing deposits, facilities, licenses, and royalties are not up for discussion in the establishment of this fund.”
