Ukraine rejects US's demand for half of its mineral resources
What's the story
Ukrainian President Volodymyr Zelenskyy has rejected an offer from the Trump administration, which asked for half of Ukraine's mineral resources in a closed-door meeting. The proposal was made in exchange for US support in Ukraine's current war with Russia. The deal would have given the US a 50% stake in Ukrainian minerals like graphite, lithium, and uranium.
Proposal presentation
US Treasury Secretary presents proposal in Kyiv
The proposal was made by US Treasury Secretary Scott Bessent during a meeting with President Zelenskyy in Kyiv. This was the first visit of an official from the Trump administration to Ukraine. Notably, the US Treasury Department has declined to comment on these negotiations. Despite the initial rejection, talks between Kyiv and Washington are still on, an anonymous Ukrainian official confirmed.
Counterproposal planned
Zelenskyy reviews proposal, plans counterproposal
After the US's proposal was presented, Zelenskyy chose to review its details and intended to present a counterproposal at the Munich Security Conference. There, he met with US Vice President JD Vance. However, it is still unclear if a counterproposal was actually presented during their meeting.
Proposal rejection
Zelenskyy confirms rejection of US proposal
While addressing reporters in Munich, Zelenskyy confirmed he had rejected the Trump administration's proposal. He did not provide specific details about the terms of the deal but said it did not include security guarantees from Washington. This rejection underscores a growing divide between Kyiv and Washington over continued US support and potential resolutions to the ongoing conflict.