The U.S.-Ukraine talks on the use of Ukrainian natural resources are in their "final stages" as "nearly all key details (have been) finalized, " Deputy Prime Minister for European and Euro-Atlantic Integration and Justice Minister Olha Stefanishyna said on Feb. 24.
"We are committed to completing this swiftly to proceed with its signature," Stefanishyna said on X. While praising the talks as "constructive," the official did not provide any details on the deliberations or the content of the deal.
Negotiations on a deal to entrench U.S. interests in Ukraine's reserves are ongoing, with the latest draft presented by the White House reportedly demanding $500 billion of Ukraine’s natural resources, including critical minerals, to recuperate American aid to Ukraine.
President Volodymyr Zelensky has so far refused to sign the deal because it does not contain any security guarantees for Ukraine and because the $500 billion sum vastly outnumbers the $100 billion provided under former President Joe Biden as a grant.
"We hope both U.S. and Ukrainian leaders might sign and endorse (the deal) in Washington (as soon as possible) to showcase our commitment for decades to come," Stefanishyna said.
The initial White House proposal reportedly sought a 50% interest in Ukraine’s natural resources, including critical minerals, oil, and gas, as well as critical infrastructure and ports. Zelensky said Ukraine is not ready to "split 50/50 without knowing what’s ahead."
The Ukrainian leader also pointed out that the U.S. proposed to return future aid with an interest of 1:2. "For every U.S. dollar, Ukraine must return two. In simple terms, this is 100% of the loan," he said.
The Trump administration has ramped up the pressure on Ukraine to sign the deal, with U.S. President Donald Trump lambasting Zelensky in public as a "dictator without elections" and urging him to "move fast, or he won’t have a country left."
Dominic Culverwell
(Updated: )
