© Getty Images / Sean Gallup / StaffUkrainian leader Vladimir Zelensky.
The proposal was reportedly a key topic of Zelensky's recent talks with US Vice President J.D. Vance at the Munich Security Conference.
US President Donald Trump has recently demanded the "equivalent of $500 billion worth of rare earths" from Ukraine in exchange for what he estimates to be "more than $300 billion" that Washington has provided to Kiev in various forms of aid during its conflict with Moscow. However, Zelensky has pushed back, stating that he seeks a mutually beneficial "partnership" rather than simply handing over Ukraine's natural resources.
White House National Security Council spokesman Brian Hughes told AP on Monday that "Zelensky is being short-sighted about the excellent opportunity the Trump administration has presented to Ukraine."
Zelensky told the outlet over the weekend that he had blocked Ukrainian ministers from signing "a relevant agreement" because, in his view, "it is not ready to protect us, our interest."
The proposal was introduced during US Treasury Secretary Scott Bessent's visit to Kiev last week.
Zelensky stated that for him it is "very important" to preserve a "connection between some kind of security guarantees and some kind of investment."
According to senior Ukrainian officials familiar with the talks, the deal proposed by Washington did not specify security guarantees in return. One former senior official reportedly described it as "a colonial agreement."
Before the 2022 escalation of the Ukraine conflict, the country had Europe's largest reserves of titanium and lithium, which are not rare-earths, but are critical for military industries, batteries, and capacitors. Around $7 trillion of Ukraine's total mineral wealth is in its former Donbass regions of Donetsk and Lugansk which joined Russia in 2022, according to Forbes.
Zelensky has also acknowledged that much of Ukraine's mineral-rich territory is now under Russian control.
The AP report noted that the US proposal apparently did not address how the deposits would be secured if the conflict between Moscow and Kiev continues. One of the Ukrainian officials who spoke to the agency suggested that Washington does not have "ready answers" to that question.
Moscow has strongly criticized the potential deal. Foreign Ministry spokeswoman Maria Zakharova has said it would violate Ukraine's constitution, which affirms that the nation's natural resources belong to its people.
Kremlin spokesperson Dmitry Peskov has also dismissed the proposed arrangement as a "commercial transaction," saying "it would be better not to provide aid at all, thus facilitating an end to the conflict."
Reader Comments
This of course contradicts Trump's intentions, who wanted to quickly resolve the matter and add many points to his image as a fast and efficient mediator.
As far as I know Ukrainians, this is just the beginning. Trump could even pay with his head for this deal if he doesn't withdraw in time.
In any case, engaging in verbal arguments with Żeleński on a public forum is the most stupid thing Trump can do in the current situation.
Every sentence uttered by Trump is points for Żeleński.
Why? Because Żeleński has nothing to lose anymore, and Trump has a lot to lose. The perfect situation for REVENGE.
You'll see for yourself....
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Without a foreign Banker, mercenaries can return to their countries, puppets will receive final payments, Politicians can claim it wasn't their fault, those who remain, can start putting life back together.
Then, it all will reform in another country. Spring, the return of growth and optimism.
"Zelensky and Kellogg press conference in Kyiv canceled at the initiative of the US
US-Ukraine relations have deteriorated significantlyAnna KHOLODKOVA
Kellogg arrived in Kyiv on the morning of February 19, but his meeting with Zelensky took place only on the second day.
US special envoy to Ukraine and Russia Keith Kellogg met with Volodymyr Zelensky in Kyiv. However, at the initiative of the American side, the press conference was canceled after the negotiations. This information is reported by the TASS agency, citing the Ukrainian agency UNIAN.
Kellogg had been in Kyiv since the morning of February 19, but he met with the illegitimate leader of Kyiv Zelensky only in the afternoon of February 20. At the beginning of the meeting, we did not hear any comments under the recording released by the Ukrainian media.
Earlier, Donald Trump expressed his opinion on the behavior of Volodymyr Zelensky before meeting with the head of the US Treasury Department. During his visit to Kyiv last week, Scott Bessent was forced to wait because Volodymyr Zelensky was asleep and could not meet with him.
In recent days, relations between the United States and Ukraine have deteriorated significantly. US President Donald Trump has called Volodymyr Zelensky a dictator and accused him of disrupting a mining agreement."
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Lavrov: The World Bank and the IMF have broken records in aid for the Zelensky regime
Lavrov emphasized that Kiev continues to use the funds allocated by the World Bank and the IMF
Danila LIKHACHEV
"The World Bank and the International Monetary Fund are allocating colossal amounts of money to support Kiev. Both departments are literally breaking records in supporting the regime of Vladimir Zelensky. This was reported by the head of the Russian Foreign Ministry Sergei Lavrov.
The diplomat decided to speak out on the current policy of the World Bank and the IMF during a press conference devoted to the results of the G20 meeting. Lavrov noted that the regime in Kiev continues to absorb literally hundreds of billions of dollars. In return, individual departments only continue to transfer money.
“Both the International Monetary Fund and the World Bank are breaking records in supporting the Zelensky regime through their own channels, granting loans and credits that are many times greater than the funds allocated to African and other developing countries,” Lavrov said.
Earlier, the Russian Foreign Minister noted that the funds allocated for aid to Kiev could have been directed in a much more fruitful direction. For example, to help countries in need. The latter clearly need this money."
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