
Trump eyeing Russian minerals after war ends, US official says
The Trump administration is open to expanding economic cooperation with Russia to obtain minerals once a peace deal is reached between Russia and Ukraine.
The Trump administration is open to expanding economic cooperation with Russia to obtain minerals once a peace deal is reached between Russia and Ukraine.
On Feb. 26, Ukraine's Cabinet of Ministers approved the decision to sign the deal.
As Kyiv and Washington celebrate agreeing to jointly develop Ukraine’s natural resources after weeks of tense negotiations, the deal still has a long way to go before the money starts flowing. Officials, experts, and those close to the deal say the current version of the agreement is an improvement
France and Ukraine have been discussing the use of Ukrainian minerals for the purposes of the French defense industry since October 2024, French Defense Minister Sebastien Lecornu said, as France Info reported on Feb. 27.
The following is the Feb. 25, 2025 edition of our Ukraine Business Roundup weekly newsletter. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. After weeks of back-and-forth, during which U.S. President Donald Trump lobbed insults at Ukrainian President Volodymyr Zelenksy,
"I will meet with President Trump," Zelensky said in his evening address on Feb. 26. "It is important for me and all of us in the world that America's assistance is not stopped."
Key developments on Feb. 26: * Trump says he will meet Zelensky on Feb. 28 in Washington to sign agreement on minerals * No security guarantees in US minerals deal, to be discussed later, Zelensky says * US, Russia to meet again tomorrow in Istanbul, Lavrov says * No sanctions relief for Russia pre-deal
While it does not contain any concrete security guarantees, the agreement states the U.S. government "supports Ukraine's efforts to obtain security guarantees needed to establish lasting peace."
"It's now confirmed, and we're going to be signing an agreement which will be a very big agreement," U.S. President Donald Trump said on Feb. 26 during a White House cabinet meeting.
The Kyiv Independent has obtained from a source in the Ukrainian government, the full text of the mineral deal agreement between the U.S. and Ukraine.
Trump said Zelensky would visit the White House on Feb. 28 to sign the deal, which gives Ukraine "military equipment and the right to fight on." He also said the U.S. was open to signing a minerals deal with Russia.
Key developments on Feb. 25: * Ukraine, US reach agreement on minerals deal * Russia's war objectives 'not yet achieved,' Kremlin's ambassador says * Reclaiming occupied territories possible but 'not easy' for Ukraine, Trump claims * Ukraine needs $524 billion for recovery, reconstruction after 3 years of Russia's full-scale war * Russia's Ryazan oil
According to the Financial Times, Ukraine secured more favorable terms and framed the deal as a way to strengthen ties with the U.S.
U.S. President Donald Trump has claimed that the U.S. spent $350 billion on assistance for Ukraine. He also said he wants it back. Trump has used the sum to pressure Ukraine into signing a deal that would give the U.S. at least a 50% interest in Ukrainian
LATEST: Kyiv, Washington reach agreement on minerals deal. The media cycle around a natural resources deal between Washington and Kyiv has been nonstop as the two sides lock horns over an agreement that has escalated from speculative critical minerals to Ukraine’s fruitful oil and gas sector. The relationship between
The day prior, AFP reported that the EU has offered Ukraine its own deal on the country's natural resources, describing it as "mutually beneficial" and a "win-win partnership."
According to the draft obtained by Axios, the U.S. would express its desire to keep Ukraine "free, sovereign and secure."
Trump reiterated his push for a deal between the U.S. and Ukraine, arguing that it would help Kyiv's economy while ensuring that Washington "recoups the tens of billions of dollars and military equipment sent to Ukraine."
Among the bombshells coming out of the Trump administration in its first month in office is the president’s demand that Ukraine pledge $500 billion worth of mineral resources to the United States in return for American support. U.S. President Donald Trump appears to see this as payback for
"The deal should be signed," Boris Johnson said, speaking at the YES conference event held in Kyiv by the Victor Pinchuk Foundation on Feb. 24, the third anniversary of the Russian full-scale invasion. "It commits the U.S. to a free and sovereign Ukraine. A continued American support is well worth the price for Ukraine."
"We are committed to completing this (deal) swiftly to proceed with its signature," Stefanishyna said on X. While praising the talks as "constructive," Deputy Prime Minister Stefanishyna did not provide any details on the deliberations or the content of the deal.
During a phone call with U.S. President Donald Trump, Justin Trudeau emphasized that any Ukraine deal must not be seen as appeasement by Russian President Vladimir Putin, warning that it could lead to future land grabs in eastern Europe and the Baltics.
President Volodymyr Zelensky pushed back at the U.S.’ demand for a $500 billion deal for its natural resources, saying that the U.S.’s aid grants are not debts, during the Ukraine: Year 2025 forum in Kyiv on Feb. 23.
Yulia Svyrydenko's comment comes as Kyiv and Washington negotiate a deal for Ukraine’s natural resources in return for support and security guarantees.
"I want them to give us something for all of the money that we put up," Trump said on Feb. 22. "We're asking for rare earth and oil — anything we can get."
The terms of the revised proposal are virtually the same as those of an earlier version rejected by President Volodymyr Zelensky, according to a draft dated Feb. 21.
Billionaire entrepreneur Elon Musk has denied reports that the United States threatened to shut off Starlink in Ukraine unless Kyiv agreed to a minerals deal. Responding to a report by Reuters, Musk called the claim "false" and accused the news agency of lying.
The U.S. is reportedly looking to obtain an interest in 50% of Ukraine's natural resources through a joint investment fund as payback for its support for Kyiv.
The U.S. first raised the prospect of shutting off Starlink service after Zelensky rejected the deal presented on Feb. 12. Starlink terminals are critical in securing Ukraine's battlefield communications.
"I think (the Ukrainians) want it. They feel good about it, and it's a significant — it's a big deal, but they want it, and it keeps us in that country, and they're very happy about it."
Ukrainian and U.S. officials negotiated a mineral deal all night into the morning on Feb. 21 amid a rift between the two nations over the agreement, Axios reported.
"President Zelensky is going to sign that deal, and you will see that in the very short term," U.S. National Security Advisor Mike Waltz said.