The Trump administration has proposed a sweeping new minerals deal with Ukraine, offering economic collaboration without future security guarantees. According to sources and a draft summary obtained by Reuters, the U.S. demands Ukraine contribute all revenue from natural resources managed by state and private firms into a joint investment fund. In return, the U.S. would receive first rights to purchase extracted resources and be repaid all aid given to Ukraine since 2022—with 4% annual interest—before Ukraine sees any profits.
The revised deal surpasses earlier proposals discussed ahead of last month’s Oval Office meeting between President Trump and Ukrainian President Volodymyr Zelenskiy. Treasury Secretary Scott Bessent, leading the negotiations, recently told Fox News that a finalized document was submitted and full discussions could begin soon.
While the agreement excludes U.S. ownership of Ukraine’s nuclear plants—an idea previously floated by Trump—it emphasizes economic partnership as a path to long-term peace. National Security Council spokesperson James Hewitt said the deal aims to build a lasting economic alliance between both nations.
Ukraine’s foreign ministry has not commented, but Zelenskiy confirmed the deal’s terms are under review, noting that Washington frequently adjusts its proposals. An earlier draft offered a 50/50 profit split and joint resource development. The new version gives the U.S. majority control over the fund’s board—three U.S. appointees to two from Ukraine—and assigns fund management to the U.S. International Development Finance Corporation (DFC). All funds would be converted into foreign currency and moved abroad.
The high-stakes proposal reflects Trump’s intent to secure a financial stake in Ukraine’s future, potentially offsetting the billions the U.S. has invested in military and financial aid since Russia’s 2022 invasion, while leveraging Ukraine’s rich mineral resources.