Ukrainian President Volodymyr Zelensky said Sunday that Kyiv and Washington were nearer to an agreement on US access to Ukrainian natural resources in exchange for security assistance.
“We are making progress,” Zelensky said during a press conference at the “Ukraine. The Year 2025” forum in Kyiv, adding that Ukrainian and US officials had been in touch about the deal earlier in the day.
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Zelensky has so far rejected demands from US President Donald Trump’s team to sign over its mineral wealth in exchange for security, but Zelensky said on Friday that the two countries were continuing to work on an agreement and would likely announce a deal soon.
A leaked document purportedly outlining the deal’s details states half of Ukraine’s revenue from gas, minerals and other infrastructure is to be given to the US under a joint fund without any clear provision on security guarantees.
After the Ukrainian side rejected the first draft of the “rare earths” deal, the US administration reportedly presented Zelensky with a revised version.
Unnamed sources from both Ukraine and the US told Axios that the new proposal was “significantly improved” and “in conformity with Ukrainian law”.
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