Zelenskyy Pushes for Better Terms in US Mineral Deal, Citing Security Concerns

Ukrainian President Volodymyr Zelenskyy remarked on Saturday that the minerals agreement draft suggested by Washington was missing essential security clauses needed by Kyiv. At the same time, three sources disclosed that the U. S. had proposed securing a 50% stake in Ukraine’s vital minerals.

The ongoing discussions underscore the diplomatic hurdles Zelenskyy encounters while seeking backing from Donald Trump and post-war safety guarantees as the U. S. president strives to end the conflict with Russia.

U. S. Proposal and Ukraine’s Response

Based on two sources acquainted with the talks, U. S. Treasury Secretary Scott Bessent introduced the draft agreement during his visit to Kyiv on Wednesday. This suggestion came on the heels of Zelenskyy outlining a framework for a deal that could allow U. S. investors to tap into Ukraine’s vast natural resources.

Although Ukraine has kept the specifics of the discussions under wraps, two Ukrainian sources confirmed on Friday that Kyiv had forwarded a revised draft to U. S. representatives.

When questioned about the problems with the U. S. proposal, Zelenskyy offered his most candid comments to date:

“It’s not in our interest today, not in (the) interest of (a) sovereign Ukraine. ”

He also highlighted the lack of security assurances in the document, noting:

“There are not very concrete things about security guarantees in this document. That for me is very important: the connection between some kind of security guarantees and some kind of investment.”

Zelenskyy’s administration has often reiterated the necessity of acquiring U. S. assurances that would deter Russia from initiating another invasion once a peace agreement is reached.

However, Bessent contended that the agreement could act as a “security shield” by aligning Ukraine’s economy with that of the United States.

U. S. Proposal Called “Very Bold”

As per two sources, Zelenskyy rejected signing the agreement when the U. S. delegation presented a document that indicated granting the U. S. a 50% stake in Ukraine’s critical minerals.

A third source characterized the U. S. proposition as “very bold”, asserting that it aimed for control over no less than half of Ukraine’s critical minerals and other assets for a prolonged duration.

One of the sources additionally revealed that the document included no security guarantees, while the first two indicated that Zelenskyy suspected the U. S. Embassy in Kyiv had drafted the proposal.

Trump, who has not committed to continuing military support for Ukraine, has previously demanded $500 billion worth of rare earth minerals from Kyiv, asserting that Washington’s backing should be “secured. ” The minerals at stake likely encompass titanium, uranium, lithium, and other rare earth elements.

Stalled Talks and Zelenskyy’s Concerns

On Friday, talks between Zelenskyy and a U. S. delegation, led by Vice President JD Vance, ended at the Munich Security Conference without a formal agreement.

Earlier that day, Zelenskyy raised concerns about the U. S. proposal during a 90-minute private meeting with a bipartisan group of U. S. senators, as reported by three sources familiar with the session.
One of them remarked, “He believed he was being asked unreasonably to sign something he hadn’t had the opportunity to review. I don’t think he liked being presented with a take-it-or-leave-it situation. ”

Zelenskyy allegedly put forth his own counterproposal, ensuring that any agreement conformed with Ukraine’s constitutional framework.

Two sources characterized Bessent’s proposal as “one-sided”, but chose not to provide any additional details.

When inquired if Zelenskyy viewed the U. S. offer as unfair, Democratic Senator Brian Schatz replied, “I think that’s fair to say. ”

International Reactions

British Foreign Minister David Lammy, a strong advocate for Kyiv, stated on Saturday that the most effective security guarantee against future Russian aggression would involve integrating U. S. industry, business, and defense sectors into Ukraine’s future.

“That is what will cause Putin to take notice, and that is what appeals to a U. S. president who understands how to negotiate a favorable deal,” Lammy stated.