Washington, D.C.: Ukrainian President Volodymyr Zelensky is set to meet US President Donald Trump to finalise an agreement on mineral deal, that could significantly shape Ukraine’s economic future and its ties with the West.
Zelensky described the agreement as inadequate and emphasised the need for further deals that include US security guarantees. However, Trump dismissed the idea of extensive American commitments, stating that Europe should bear more accountability for Ukraine’s defence.
Trump also appeared to shut down Ukraine’s hopes of joining NATO, a long-standing ambition of Zelensky’s administration. Speaking at a cabinet meeting, the US president asserted that having American workers extract rare earth metals in Ukraine would provide “automatic security” for the country.
Trump stated that, “Forget about NATO,” echoing Russian claims that the prospect of Ukrainian membership was a key factor in the war’s outbreak. Trump suggested that a ceasefire between Ukraine and Russia was imminent, stating that, “We’re going to make a deal with Russia and Ukraine to stop killing people.”
Zelensky, however, countered that without formal security guarantees, any truce would be unsustainable. Zelensky stated that, “We won’t have a ceasefire, nothing will work, nothing,” reaffirming his dedication to securing either NATO membership or an alternative security arrangement.
While Trump floated the idea of European peacekeeping troops in Ukraine, Russia has rejected such a proposal. European leaders have also expressed concerns about being sidelined in negotiations.
EU High Representative for Foreign Affairs and Security Policy Kaja Kallas stressed the need for European participation in any potential peace deal. Kaja Kallas stated that, “For any kind of deal to work on European soil, you need the Europeans to also agree to it.”
Meanwhile, a scheduled meeting between Kallas and US Secretary of State Marco Rubio was abruptly cancelled, with both sides citing scheduling conflicts.
The agreement, formally backed by the Ukrainian government, is expected to include an “investment fund” for Ukraine’s reconstruction, according to Ukrainian Prime Minister Denys Shmyhal. However, many details remain undisclosed.
Trump has hailed the deal as a major opportunity for the US, framing it as a way to “get our money back” after providing billions in aid to Ukraine. Zelensky, however, has characterized it as a “framework agreement” that could pave the way for further negotiations.
The prospect of such a deal was first raised by Zelensky last year as a means to ensure continued US support for Ukraine. However, disagreements over its terms have fueled tensions between the two leaders. Reports indicate that Ukraine initially rejected a US demand for $500 billion in mineral wealth, though that request has since been withdrawn.
Ukraine is home to approximately 5 percent of the world’s critical raw materials, but many deposits are currently under Russian control. According to Ukrainian Economy Minister Yulia Svyrydenko, mineral resources worth an estimated $350 billion remain in occupied territories.
Adding another layer of complexity, Russian President Vladimir Putin has reportedly offered the US access to rare minerals, including those from Russian-occupied Ukrainian territory.
Before any large-scale mineral extraction can take place, Ukraine faces a significant challenge: demining vast swaths of its territory. An estimated 25 percent of Ukraine’s landmass is contaminated with unexploded mines, particularly in the war-ravaged eastern regions.
British Prime Minister Sir Keir Starmer is also set to meet separately with both Trump and Zelensky in Washington this week to discuss Ukraine’s future and Western support for its war effort.
With key negotiations underway, the coming days could determine not only Ukraine’s economic trajectory but also the broader geopolitical landscape of the conflict.
MOST READ | Amazon unveils Alexa+: A smarter, more personal AI assistant
