Trump likely to meet with Zelenskyy on Friday to sign mineral agreement
Pravda Ukraine
US President Donald Trump has stated that Ukrainian President Volodymyr Zelenskyy is likely to arrive in Washington on Friday, 28 February, for a personal meeting. He has said a deal on mineral extraction may be signed during the talks.
Source: Trump speaking to journalists at the White House
Quote: “I hear that he [Zelenskyy] is coming on Friday [28 February]. Certainly it’s okay with me, if he’d like to, and he would like to sign it together with me. And I understand that’s a big deal, very big deal.”
“It’s a very big deal. It could be a trillion-dollar deal. It could be whatever, but it’s rare earths and other things.”
Details: Trump also emphasised the desire to get back spent funds.
Quote: “We want to be secured. We want to get that money back. We’re helping the country to a very, very big problem, a problem like very few people have had. Shouldn’t have had this problem, because it shouldn’t have happened, but it did happen, so we have to straighten it out, but the American taxpayer now is going to get their money back.”
Details: When asked by a journalist what Ukraine would receive in return, Trump replied that it would be US$350 billion and the right to fight.
Quote: “US$350 billion, lots of equipment and military equipment, and the right to fight.
Look, Ukraine… I will say they’re very brave and they’re good soldiers. But without the United States – its money and its military equipment – this war would have been over in a very short period of time.”
Details: When asked by media outlets representatives whether Trump sees a more active role for the Ukrainian president in the talks process after the deal is reached, he replied that he “hopes so”.
“We want to get that country [Ukraine] back on its feet,” Trump added.
There is no official confirmation from the Ukrainian government at this time.
Previously: Financial Times reported on 25 February that Ukraine and the United States had agreed on the terms of a future deal on mineral extraction, which, as Kyiv believes, would pave the way for long-term US security commitments.
- The final version of the agreement, dated 24 February, which has been seen by Financial Times, provides for the creation of a fund to which Ukraine will allocate 50% of revenues from the “future monetisation” of mineral resources, including oil and gas as well as related logistics.
- The agreement does not include minerals whose revenues already contribute to the Ukrainian state budget, meaning it will not apply to the current activities of Naftogaz and Ukrnafta, as Financial Times explained.
- The last draft agreement removed provisions on creating a “reconstruction fund” worth up to US$500 billion, into which Ukraine would have to transfer 50% of its mineral extraction revenues and in which the US would “maintain 100 per cent financial interest”.
- Meanwhile, the agreement contains no mention of security guarantees from the United States, which Kyiv initially insisted on in exchange for agreeing to the deal. It also does not specify crucial issues such as the US share in the fund and the conditions of “joint ownership” agreements.
Financial Times sources reported that the deal had been approved by Ukraine’s ministers of justice, economy and foreign affairs.
Background:
- On 24 February, Ukrainian Deputy Prime Minister Olha Stefanishyna said that Ukrainian and American teams were at the final stage of negotiations on the agreement on Ukrainian minerals.
- US President Donald Trump’s special envoy Steve Witkoff said earlier that he expected Ukraine to sign an agreement on the use of Ukrainian natural resources “this week”.
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