The Trump administration has lowered the payback for the provided aid it seeks under a minerals agreement with Ukraine from $300 billion to $100 billion, Bloomberg reported on April 16, citing undisclosed sources.
The news comes following technical consultations between U.S. and Ukrainian delegates in Washington on April 11 and 12, which were meant to hash out details of the long-debated deal on Ukraine's natural wealth.
While initial reporting indicated the talks began in an "antagonistic atmosphere," President Volodymyr Zelensky said the round of discussions concluded in a "positive mood."
Speaking to Bloomberg, U.S. Treasury Secretary Scott Bessent said that a significant progress has been made, and that the deal could be signed as early as this week.
The current U.S. proposal would grant extensive control to a joint investment fund managed by Washington. The Trump administration has framed the deal as a way to recoup the billions of dollars in military and financial aid provided to Ukraine since the start of Russia's full-scale invasion.
While the $100 billion that Washington now reportedly seeks is closer to Ukraine's estimates, President Volodymyr Zelensky has previously stressed that Kyiv does not see the previously provided assistance as debt.
Under the Biden administration, the U.S. has donated the largest volumes of arms and military equipment among Ukraine's partners. However, President Donald Trump has yet to allocate any new packages and even briefly paused the ongoing assistance in March to pressure Kyiv into signing the minerals deal.
The original framework agreement was expected to be signed during President Volodymyr Zelensky's visit to Washington on Feb. 28, but the plan fell apart following a heated Oval Office dispute with Trump and Vice President JD Vance. Zelensky left without finalizing the deal.
Ukraine has since hired the American-British law firm Hogan Lovells to advise on the negotiations.
Deputy Prime Minister for European and Euro-Atlantic Integration Olha Stefanishyna confirmed on April 14 that Ukraine had submitted a revised set of proposals during the latest round of talks, without commenting on the U.S.'s reaction.
Kateryna Hodunova
(Updated: )
