On Wednesday, President Donald Trump announced that he and Ukrainian President Volodymyr Zelenskyy will be signing a deal that will give the United States significant access to Kyiv’s valuable rare earth minerals. In addition, the deal will also involve compensation to Washington for the weapons sent to Ukraine in order to defend against the Russian aggression that has been ongoing for the past three years.
The signing of this pact will take place during Zelenskyy’s visit to the White House on Friday, where they will also discuss the current state of the war. Trump stated at his first Cabinet meeting of his new term that this deal will bring great wealth to the United States, but his main priority is to end the conflict that has caused the loss of countless lives and destruction of land.
The President emphasized that his second goal is to seek reimbursement for the over $100 billion worth of military equipment that has been provided to Ukraine to support their troops. He firmly believes that without this assistance, the war would have ended quickly with Russia overtaking Ukraine.
However, at present, Russia holds control over a significant portion of Ukraine’s internationally recognized territory and has made it clear that they do not plan on returning any of it in a potential peace agreement.
Trump expressed his confidence in reaching a deal with both Zelenskyy and Russian President Vladimir Putin to put an end to the ongoing conflict. He was the one to initiate talks with Putin, but the recent discussions between the top diplomats from the US and Russia, Secretary of State Marco Rubio and Foreign Minister Sergey Lavrov, excluded Ukrainian and European officials.
The proposed deal aligns with Zelenskyy’s original idea for peace. Olena Prokopenko, a senior fellow at the German Marshall Fund and former adviser to Ukraine’s finance minister, stated that it would be difficult for the Ukrainian government to back out of this offer. She also mentioned that the initial draft of the deal was not entirely satisfactory, but the finalized version appears to be more balanced, and the Ukrainian government is ready to sign it.
Prokopenko also believes that some modifications may still be made before the final signing of the deal. She noted that although there has been progress in terms of mentioning security guarantees, it needs to be more detailed and connected to investments. She emphasized that it should be seen as an investment deal, but also as a security deal.
Regarding Ukraine’s potential for joining NATO, Trump stated on Wednesday that they can forget about it as part of the peace settlement. In response, Zelenskyy said at a news conference in Kyiv that the framework for the rare earth minerals agreement is complete, but the security guarantees from the US, which are crucial for Ukraine, are yet to be finalized.
It is no secret that Trump has expressed doubts about continuing military support for Ukraine. Last year, he refused to express his desire for Ukraine to win the war. He has also labeled Zelenskyy as a dictator and falsely accused Ukraine of instigating the conflict with Russia.
One of the reasons for Trump’s skepticism towards providing military aid to Ukraine is former President Joe Biden’s decision to agree to the assistance without any provisions for repayment. Biden had led a coalition of Western allies in providing military aid to Ukraine as a way to fight Russian aggression without involving their own troops.
However, Zelenskyy clarified that the military aid provided by the US was a grant and did not require repayment. Instead, he has now agreed to the terms of the deal for the rare earth minerals, which are essential for manufacturing technology products.
During his visit to the White House, Zelenskyy expressed his desire for comprehensive and meaningful discussions with Trump. He stated that he wants to coordinate with the US on various matters, including whether they plan to halt military aid and if Ukraine can purchase weapons directly from the US. He also hopes to find out if they can utilize frozen Russian assets for investing in weapons and if the US intends to lift economic sanctions on Russian entities and individuals close to Putin.
Furthermore, Ukrainian Prime Minister Denys Shmyhal announced on the country’s public television channel that the agreement outlines the terms and conditions for an investment fund to rebuild Ukraine.
According to the agreement, 50% of the proceeds from Ukraine’s minerals, oil, and gas will go towards creating a stable and economically prosperous country if the war comes to an end. The remaining 50% will go into a fund controlled by the US.
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