Ukraine Set to Finalize $500 Billion Mineral Agreement

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Subheading: Anticipation Grows for a Historic Mineral Deal Amid Ongoing U.S. Support / AP

U.S. President Donald Trump’s long-anticipated mineral agreement with Ukraine, valued at approximately $500 billion, is poised for completion this week. Steve Witkoff, the U.S. Middle East envoy, expressed optimism in a recent CNN interview, stating, “I expect to sign the agreement this week.” This development follows recent tensions, as Ukrainian President Volodymyr Zelensky hesitated to sign the deal, only to be encouraged by Trump to move forward.

The proposed mineral agreement requires Ukraine to transfer half of its rare earth element stakes to the United States in exchange for military and financial support. Initially, Zelensky rejected the draft due to the absence of security guarantees that Ukraine deemed crucial. Trump, frustrated by the situation, referred to Zelensky as a “dictator,” prompting the U.S. administration to ramp up pressure for a resolution.

The draft agreement obtained by The New York Times outlines that Ukraine will allocate half of its revenues generated from natural resources—including minerals, gas, and oil—as well as income from ports and other infrastructures to the United States. Furthermore, these Ukrainian resource revenues will be deposited into a fund that the U.S. will control, which is projected to reach $500 billion. However, this revised draft still lacks explicit security assurances.

The U.S. government contends that economic cooperation equates to security assurances. Treasury Secretary Scott Bencet emphasized in a Fox News interview that while the draft may not include explicit security guarantees, it implies U.S. backing through economic interests. He stated, “I call it economic security assurance. The more U.S. corporate assets there are in Ukraine, the greater the American interest in the well-being of the Ukrainian economy, thereby enhancing security for the Ukrainian people.”

Despite ongoing U.S. pressure, Ukraine appears to be weighing the decision to sign the agreement. Zelensky remarked in a press conference, “If the U.S. condition is that we must sign the agreement or else we won’t receive assistance, then it is clear what we must do. Starting tonight, $500 billion will not be an issue.” This underscores the urgency of the situation and the intricate balance Ukraine must navigate in securing both economic stability and national security.

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