Ukrainian President Volodymyr Zelenskyy's team is in discussions with the United States over a revised agreement that would grant the U.S. a share of revenue from some of Ukraine's most valuable natural resources, according to officials familiar with the matter, as reported by ABC News. The talks come after Zelenskyy rejected an initial proposal from the Trump administration, which sought 50% of Ukraine's earnings from key sectors, including minerals, oil, gas, and ports.
A Ukrainian official, speaking on condition of anonymity, confirmed that negotiations were ongoing to modify the terms of the agreement. "There was significant improvement in the recent draft, and it is in conformity with Ukrainian law," the official said. However, the official also noted that Ukraine would not agree to any deal that undermines its sovereignty over critical resources.
The proposal was originally presented to Zelenskyy's team on February 12 when U.S. Treasury Secretary Scott Bessent visited Kyiv. Ukrainian officials were reportedly given little time to review the document before being asked to sign it, a move that led to widespread criticism within the country. The initial draft, reviewed by multiple sources, did not include any security guarantees for Ukraine, raising concerns that the deal was being pushed as a form of compensation for previous U.S. military and financial aid.
Zelenskyy, during a press conference on Wednesday, addressed the issue, stating, "I told them to show the security guarantees, and then we talk about the percentage. They said 50%, and I replied NO. I can't sell the country off. I'm just a manager. Tomorrow, the country will have another manager, so I can't sell it. Besides, around 20% of resources are in Russia-occupied territory."
After Zelenskyy refused to sign the deal, tensions escalated between Kyiv and Washington. President Donald Trump publicly criticized Zelenskyy, calling him a "dictator" and questioning his leadership. The White House defended the proposal, with National Security Advisor Michael Waltz stating, "There can be, in my view, nothing better for Ukraine's future and for their security than to have the United States invested in their prosperity long-term."
Sources familiar with the ongoing negotiations indicate that the revised agreement now includes potential security provisions and removes controversial clauses that had previously alarmed Ukrainian lawmakers. The latest version, presented during discussions between Zelenskyy and Trump's special envoy to Ukraine, Keith Kellogg, on Thursday, aims to create a more structured economic partnership.
Despite the changes, pressure remains on Zelenskyy to accept the deal. Some of his aides have reportedly urged him to sign in order to avoid further diplomatic fallout with the U.S., particularly as Ukraine continues to rely on Western support in its war against Russia. The White House has suggested that further military aid could be tied to economic cooperation between the two nations.
The U.S. sees Ukraine's vast deposits of rare earth minerals as critical to securing supplies for advanced technology, including semiconductors and defense systems. A previous version of the deal stipulated that the agreement would override Ukraine's existing trade partnerships and fall under the jurisdiction of U.S. courts, which was a major sticking point for Kyiv. Recent discussions have reportedly softened those terms.
Zelenskyy's stance on the mineral deal has become a flashpoint in U.S.-Ukraine relations, adding to already strained diplomatic ties. The dispute over resource control comes amid broader geopolitical challenges, with Ukraine also being excluded from recent U.S.-Russia talks regarding its future. The uncertainty surrounding the negotiations underscores the high stakes for both countries as they navigate the next phase of their partnership.
