Ukraine and US aim to finalize minerals deal this week – Bloomberg
Photo: President Volodymyr Zelenskyy and US Ambassador Keith Kellogg (Vitalii Nosach, RBC-Ukraine)
Ukrainian and US negotiators are working to resolve differences in a strategic minerals deal, aiming to finalize the agreement this week, Bloomberg reports.
According to the outlet, Ukrainian officials discussed the minerals issue with US Special Envoy Keith Kellogg during his visit to Kyiv. Bloomberg sources, speaking on condition of anonymity due to the closed-door nature of the talks, disclosed this information.
The sources said the US proposal included a 50% share of revenues from license sales and other profits from Ukrainian minerals, which would violate Ukrainian law. In response, Kyiv reportedly suggested amendments to make the deal mutually beneficial.
Bloomberg adds that after meeting with Kellogg, President Volodymyr Zelenskyy said the talks had “restored hope” for the minerals agreement, although the Ukrainian President had previously rejected the US proposal.
According to Bloomberg’s source, the ideal scenario would be to sign an agreement with the participation of the presidents of the United States and Ukraine. However, Zelenskyy insists on meeting with Trump before any potential negotiations between Trump and Putin.
Minerals agreement
Last week, the US proposed that Ukraine sign a deal on rare earth metals. US Treasury Secretary Scott Bessent traveled to Kyiv with this initiative. However, President Volodymyr Zelenskyy’s team rejected the initial draft, which would have granted the US access to Ukraine’s strategic minerals.
Zelenskyy also dismissed the proposal during the Munich Security Conference, stating that it did not protect Ukraine’s interests.
However, after meeting with US envoy Keith Kellogg, Zelenskyy instructed his team to work on agreements with the US “quickly and very carefully.” He emphasized that Ukraine needs “strong agreements with America that will really work.”
On February 20, media reported that the administration of US President Donald Trump had offered Ukraine an “improved” minerals deal after Zelenskyy rejected the initial proposal.
