Ukraine's Critical Minerals at the Center of High-Stakes US Negotiations
Ukraine Holds Firm: No Minerals Deal Without Military Guarantees from the US
Editorial Team (ET)May 8, 2025
Ukrainian President Volodymyr Zelenskiy has made it clear—any minerals deal with the United States must come with firm military guarantees. Speaking at a press conference on Sunday, Zelenskiy pushed back against Washington’s latest proposal, underscoring Ukraine’s urgent need for security amid ongoing conflict with Russia.
This marks a significant roadblock in negotiations between Kyiv and Washington. While the US has dropped its demand for Ukraine to commit $500 billion as part of a revenue-sharing deal, Zelenskiy remains adamant that economic incentives alone will not suffice.
The High-Stakes Negotiation
US President Donald Trump and his administration, led by Treasury Secretary Scott Bessent, have been pushing Ukraine to agree to a deal that would allow American companies to tap into Ukraine’s mineral wealth. The proposal, first introduced in Kyiv on February 12, is part of a broader strategy aimed at stabilizing the region and brokering a ceasefire.
However, Ukraine has firmly resisted, with Zelenskiy rejecting the notion that US business interests in the country could substitute for concrete military backing. He remains wary of any agreement that lacks ironclad security assurances.
“The deal must be a win-win for both Ukraine and the US,” Zelenskiy stated, signaling Kyiv’s unwillingness to concede without stronger terms.
Economic vs. Military Security Guarantees
In an interview on Fox News’s Sunday Morning Futures, Bessent outlined the US vision for the deal. According to him, Washington envisions a “strategic partnership” encompassing minerals, energy, and state-owned enterprises to propel Ukraine onto a path of growth.
Instead of providing direct military guarantees, the US has offered what it calls an “economic security guarantee.” The idea is that sustained investment and business ties with US firms would bolster Ukraine’s long-term stability.
Zelenskiy, however, remains unconvinced. From Kyiv’s perspective, economic partnerships cannot replace military commitments, especially with Russian forces still posing an existential threat to the nation’s sovereignty.
A Political Firestorm
The dispute over the deal has ignited tensions between Washington and Kyiv, with heated rhetoric from both sides. Trump recently referred to Zelenskiy as a “dictator,” a remark that sparked backlash and raised concerns over the future of US-Ukraine relations.
Zelenskiy, in turn, accused Trump of echoing Russian disinformation, further escalating the standoff.
At the heart of the matter is a fundamental disagreement on Ukraine’s mineral wealth. Trump has floated figures as high as $500 billion, suggesting that Ukraine’s natural resources could be a major financial asset. However, Ukrainian officials argue that their nation’s actual rare earth reserves are not as lucrative as claimed.
The Next Steps in Negotiations
Despite the growing tensions, talks between the two countries continue. Andriy Yermak, Zelenskiy’s top adviser, confirmed on Telegram that discussions are progressing.
One key aspect of the ongoing dialogue involves conducting a comprehensive survey of Ukraine’s mineral reserves. Zelenskiy hinted at the possibility of reclaiming assets that may have been obtained illegally, a move that could reshape the country’s resource landscape.
With both nations standing firm on their respective positions, the path forward remains uncertain. Will the US adjust its stance and offer the military guarantees Ukraine demands? Or will Ukraine have to navigate these challenges alone, risking economic and strategic isolation?
For now, the fate of the minerals deal—and Ukraine’s security—hangs in the balance.
