Ukraine–United States Mineral Resources Agreement

In September 2024, Ukrainian President Volodymyr Zelenskyy proposed U.S. participation in developing Ukraine's natural resources in exchange for continued support in countering Russian aggression. Ukraine possesses significant deposits of minerals, including lithium, graphite, manganese, and titanium ore. Many of these resources remain unexploited, while some deposits are located in territories occupied by Russia. On 16 October 2024, Zelenskyy put forth his proposed План перемоги ("Victory plan") to the Ukrainian parliament which outlined strategies to strengthen Ukraine and potentially end the conflict with Russia. This included a "special agreement on joint investment and use" of Ukraine's natural resourcessuch as uranium, titanium, and lithiumwith the European Union and the United States. The plan also included a renewed request for inclusion in NATO and a robust post-war security framework. Following the November election, U.S. President Donald Trump began demanding as compensation from Ukraine to pay back U.S. aid during the war. On 3 February 2025, Trump said that continual support from the United States would be conditional on the acquisition of Ukraine's rare minerals. However, this condition was later excluded from the agreement. The Congressional Research Service said that from 2022 to 2024, the appropriation was . Trump's demand for the resources agreement is a way for Ukraine to "pay back" the U.S. aid already provided to Ukraine and is a condition of any ongoing support. On 24 February, Trump said that they were close to an agreement "where we get our money back over a period of time." On 28 February 2025, Zelenskyy met at the White House in Washington with Trump and U.S. Vice President JD Vance, for a bilateral meeting in the Oval Office to sign the agreement. According to The Guardian, on 2 March, Zelenskyy said that the "deal on minerals was now ready to be signed." Towards the end of Trump's speech to a joint session of Congress on 4 March, Trump made a statement directed at Zelenskyy that The New York Times described as "conciliatory." == Negotiation process ==

According to a 27 February The Kyiv Independent article, French Defense Minister Lecornu had been in talks with Ukraine since the fall of 2024 on Ukraine's rare earth minerals, following Zelenskyy's 16 October 2024 victory plan proposal. Cornu clarified that it was not Trump, but Zelenskyy and his team who had introduced the issue of the potential of transactional opportunities of natural resources. Zelenskyy described it as a framework for the 28 February in-person meeting in Washington. The 25 February draft agreementas reported by Reutersindicated that U.S. Treasury Secretary Scott Bessent and Ukrainian Foreign Minister Andrii Sybiha were designated to sign the document. According to The Kyiv Independent, Zelensky's main objective for the 28 February 2025 Oval Office meeting with Trump was to "discuss the deal and a possible inclusion of security guarantees", The meeting began well but when Zelenskyy said that Putin was not trustworthy and had previously broken promises to end fighting, Vance rebuked him. Trump said that Putin had never broken an agreement with him. Trump accused Zelenskyy of "killing a very large number of people", "gambling with World War III" and being "very disrespectful to the country, this country that's backed you far more than a lot of people say they should have", and the Ukrainian delegation was asked to leave the White House. == Agreement ==

Key provisions The agreement stipulates the establishment of a jointly-owned and managed "United States-Ukraine Reconstruction Investment Fund" to foster lasting peace and economic security in Ukraine. Its primary mechanisms include: • Revenue sharing: Ukraine contributes 50% of royalties, rent payments, and license fees from designated natural resource assets (including titanium, lithium, and uranium). This revenue sharing applies only to new investments and projects; existing projects (like those by companies such as Naftogaz and Ukrnafta) are explicitly exempt from contributing to the fund, ensuring Ukraine retains full control over its current strategic assets. • Military aid: the United States' financial commitment is structured as a capital contribution. In addition to purely financial contribution, any new military aid (such as weapons systems, ammunition, or training) is treated as capital contribution. The U.S. International Development Finance Corporation (DFC) is designated as the primary U.S. implementing agency. == See also ==