Ukraine, US Pursue Mineral Deal Amid Ongoing Russia Conflict

US Treasury Secretary Scott Bessent stated that a potential minerals agreement between Kyiv and Washington could provide Ukraine with a post-conflict security shield. This follows President Zelenskyy’s indication that Ukraine is open to negotiations for US investment in its mineral resources, seeking support in the ongoing conflict with Russia.

While President Trump has not clarified his stance on continued military aid to Kyiv, he has expressed interest in securing US$500 billion in rare earth minerals from Ukraine, emphasizing the need for US support to be secured. Zelenskyy confirmed that the United States presented an initial draft agreement, which is under review. A final deal is expected to be finalized during the Munich Security Conference, taking place from Feb. 14-16.

Zelenskyy noted the productive conversation about securing security guarantees for Ukraine, particularly in relation to minerals. However, the final outcome of the agreement remains uncertain, especially following Trump’s "lengthy and productive" phone call with Russian President Putin. While Trump seeks to end the conflict, skeptics worry that a US-brokered deal may pressure Ukraine to concede to Putin's demands. Zelenskyy emphasized that peace negotiations should involve Ukraine, ensuring that its interests are fully represented.