U.S., Ukraine reportedly close in on mineral rights deal

The two nations have agreed to the framework for a joint agreement giving the United States access to Ukraine’s rare earth minerals, the Associated Press reported late Tuesday. A senior Ukrainian official said the deal could be signed on Friday when Ukrainian President Volodymyr Zelenskyy plans to travel to Washington to meet with President Trump. The Ukrainian cabinet will meet to approve the deal in advance of the trip as soon as Wednesday, Axios reported.

What will the deal likely contain? The deal would give the United States and Ukraine joint ownership of an investment fund, according to the Associated Press. Ukraine would contribute to the fund 50% of proceeds from state-owned natural resources, including minerals, oil, and gas. The deal framework does not include Trump’s earlier demand for $500 billion in mineral profits, a Ukranian official told the AP. The deal framework also does not yet include any security guarantees or promises of U.S. military assistance. Those terms could be hammered out when the two presidents meet.

Did Russia comment on the deal? Russia’s Foreign Minister Sergei Lavrov on Wednesday said his country wouldn’t accept European peacekeeping troops in Ukraine, an option Trump hinted at Tuesday. Diplomats from Russia and the US are due to meet Thursday in Turkey. Lavrov also said Russia wasn’t open to freezing the conflict along current territorial lines.