The United States and Ukraine have announced that they are on the brink of reaching an agreement for Kyiv to transfer a significant portion of its rare earth mineral rights to Washington. This compensation is in lieu of the billions of dollars worth of munitions that the U.S. has provided to Ukraine to defend itself against Russia’s full-scale war.
During a press conference in Kyiv, Ukrainian President Volodymyr Zelenskyy stated that the two nations are making progress in finalizing the deal. As per the draft agreement, Ukraine will pay the U.S. two dollars for every dollar of aid that has been sent to fight Russia’s invasion. However, details of the agreement have not been made public yet.
President Zelenskyy has also emphasized the need for security guarantees as a part of the deal and has called for better financial terms. “I don’t want something that 10 generations of Ukrainians will have to pay back,” he said.
The war in Ukraine has entered its third year, and the U.S. has been the country’s biggest benefactor. According to Germany’s Kiel Institute for the World Economy, the U.S. has sent $128 billion in military and humanitarian assistance to Ukraine, just ahead of the combined figure of $124 billion from the 27-nation European Union.
In an interview with CNN’s “State of the Union,” U.S. special envoy Steve Witkoff expressed his confidence that President Zelenskyy will sign the minerals deal this week.
Initially, Zelenskyy had rejected the U.S. demand for half of Ukraine’s rare earth mineral supplies, which are crucial for the production of technology products. However, Witkoff has now signaled that the deal will be finalized, although the details have not been disclosed.
Witkoff also highlighted the fact that European countries had made their contributions to Ukraine’s war efforts with the understanding that they would eventually be paid back. However, the U.S. had no such agreement in place.
He also mentioned that President Donald Trump, who is known for his background in real estate deals, did not understand the concept of providing support without repayment terms. In fact, Trump had demanded that Ukraine repay the aid and had blamed his predecessor, Joe Biden, for not securing some form of compensation guarantee.
President Zelenskyy, on the other hand, has stated that the aid provided by the U.S. was in the form of grants, not loans. “Therefore, it’s not about the figure. We simply don’t see it as a loan,” he said.
Recently, Trump had called Zelenskyy a “dictator” and accused him of starting the war, even though it was Russia who had invaded Ukraine. Zelenskyy has asked for Trump’s understanding and support in the form of concrete security guarantees to help Ukraine defend itself against the Russian invasion.
“I want very much from Trump understanding of each other,” Zelenskyy said during the press conference. He also added, “Security guarantees from Trump are much needed.”
In a lighter tone, Zelenskyy even joked that he would be willing to give up his presidency if it meant peace in Ukraine. He said he would exchange his departure for Ukraine’s entry into NATO, something that Russia is vehemently opposed to.
The top diplomats of the U.S. and Russia, Secretary of State Marco Rubio and Foreign Minister Sergey Lavrov, met in Saudi Arabia last week to lay the groundwork for peace talks to end the war. However, no Ukrainian or European officials were present at the meeting, causing Zelenskyy to express his disappointment. Trump, on the other hand, stated that Ukraine could have negotiated with Russia beforehand to prevent the conflict.
“I’ve had very good talks with Putin, and I’ve had not such good talks with Ukraine,” Trump said during a meeting with state governors at the White House. He also added, “They don’t have any cards, but they play it tough.”
Russian state television has recently stated that Trump’s view of the Russia-Ukraine conflict aligns with their own. This statement has raised concerns among many about Trump’s stance on the matter.
Witkoff has stated that the war could have been avoided if Ukraine had not been pushing for NATO membership at the time. Although Kyiv is still determined to join the 32-nation pact, Washington has stated that it is not a realistic goal to be achieved
