President Volodymyr Zelensky will travel to Washington, D.C. in the coming days after the US and Ukraine agree to the terms of the contract regarding natural resources and reconstruction, according to Ukrainian officials.
As part of a broader negotiation to end the Russian invasion, negotiations over a contract that could grant access to the US to Ukrainian rare earth minerals have continued for several days, similar to the US involvement in the Ukrainian Reconstruction Fund.
The Ukrainian official said he agreed, “After all that is unacceptable has been taken from the text, it has given a more clear explanation of how the contract will contribute to Ukraine’s security and peace.”
Although details of the agreement are still unknown, the main sticking point was the demand from the Trump administration for a $500 billion share of Ukraine’s rare earth and other minerals, in exchange for aid that the US had already provided Kiev, previously rejected by Zelensky.
The United States has not confirmed whether the terms of transactions have been agreed.
“I’ve heard (Zelensky) is coming on Friday. Certainly, if he wants I’ll be fine and he’ll sign it with me. And I understand it’s a big deal, a very big deal,” US President Donald Trump said Tuesday from his office in the oval shape.
Trump was asked what Ukraine will receive from the mineral trade.
“We almost negotiated a deal on rare earths and a variety of other things,” Trump told reporters, adding that Ukraine’s future security would be “later.”
“I don’t think that’s going to be a problem,” Trump said. “I talked to Russia about it. They didn’t seem to have any problems with it. So I think they understand… If we do this, they won’t come back.”
Ukraine is seeking security guarantees, and Kiev is not only looking at the revival of lost territory, but also seeking protection against future Russian invasions.
European leaders also emphasize the need for Ukraine’s security guarantees as a condition for future peace negotiations between Moscow and Kiev. Following his meeting with President Trump, French President Emmanuel Macron proposed on Monday to increase Ukraine’s military capabilities and, if requested, deploying British and French troops to maintain peace.
British Prime Minister Kiel Starmer, who will be visiting the White House on Thursday, said the Ukrainian peace agreement requires a US “backstop.”
News of the agreement came after the same source told CNN that Americans resisted security assurances included in the draft.
The exact language of Ukraine’s safety in the latest draft was unknown.
CNN on Monday reported that some of the troubling details about the resource transaction will be negotiated in subsequent consultations, and that the US and Ukrainian presidents may have a direct discussion about security assurances, citing a source familiar with the negotiations.
Sources told CNN over the weekend that Zelensky had no “duty” for the US, but Ukraine was unable to accept an earlier version of the contract as it was “expected to provide everything.”
Since then, there have been signs that the two leaders are approaching an agreement.
During his visit to the White House on Monday, Macron praised Trump for “the decision to work with President Zelensky and for concluding this agreement, which is very important to the rare earth US and Ukraine, and it is very important for key minerals.
Meanwhile, Russia continues to attack Ukraine with airstrikes, launching at least 177 drones on the country overnight on Wednesday, according to the Ukrainian Air Force. Of these, 110 were shot down and 66 people did not reach the target, the Air Force said.
Ukrainian officials said Wednesday that at least seven people were killed in the one-night attack, including two from the Kyiv region.