Kyiv, Washington discuss draft agreement on mineral resources

Ukraine and the United States have held their first extended discussion on a new draft agreement concerning mineral resources.

The talks took place on Friday, March 28, with discussions between the teams, including legal experts, still ongoing, Caliber.Az reports per foreign media.

President Zelenskyy previously confirmed that the US had presented Ukraine with a new draft agreement on mineral resources. Under the proposed deal, Kyiv would be required to compensate for assistance exceeding $120 billion.

The agreement would grant the US control over an investment fund being established for Ukraine’s reconstruction. This fund would receive contributions from Kyiv’s revenues, generated through licensing fees and royalties from mineral extraction.

Notably, speaking to reporters aboard Air Force One, U.S. President Donald Trump dismissed Ukraine’s NATO aspirations, calling them unrealistic. “He (Zelenskyy) wants to be a member of NATO, but he's never going to be a member of NATO. He understands that,” Trump said.

The Kyiv Independent cited a source clarifying that Ukraine’s NATO membership is not linked to the minerals deal. “We are not tying (the minerals deal to NATO), it’s a misunderstanding,” they stated.

European Pravda raised concerns that the deal could contradict Ukraine’s EU accession due to restrictions on economic sovereignty.

Following these reports, President Volodymyr Zelenskyy asserted that Kyiv would not sign the deal if it jeopardised EU membership. He also rejected claims that U.S. aid to Ukraine should be considered debt.

Bloomberg reported that Ukraine is seeking revisions to the deal, including greater U.S. investment and clearer operational terms for the joint fund.

The Trump administration has promoted the deal as key to Ukraine’s stability but has not provided concrete security guarantees. Kyiv and Washington were set to sign an earlier version on February 28, but negotiations collapsed after a heated Oval Office dispute involving Zelenskyy, Trump, and Vice President JD Vance.

The White House has described the minerals deal as a means for the U.S. to “recoup” some of the financial aid given to Ukraine since Russia’s full-scale invasion.

By Aghakazim Guliyev