Zelensky rejects US deal for 50% of Ukraine's mineral rights: Reports
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In a Fox News interview aired on February 10, Trump stated that Ukraine has "essentially agreed" to provide the equivalent of $500 billion in rare earth minerals in exchange for continued American support.
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Volodymyr Zelenskyy, president of Ukraine speaks to the press during a media briefing on the territory of Khmelnytskyi Nuclear Power Plant, Ukraine, Thursday, Feb. 13, 2025. (AP Photo/Alex Babenko)
Ukrainian President Volodymyr Zelensky has rejected a US proposal that would have granted Washington rights to half of Ukraine’s future mineral reserves, according to The Washington Post journalist Josh Rogin. The offer, made by a US Congressional delegation at the Munich Security Conference, sought to secure access to Ukraine’s titanium, lithium, uranium, and rare earth elements as part of continued military and financial aid. However, lawmakers at the meeting confirmed that Zelensky refused to sign the deal.
Trump Demands $500 Billion in Rare Earths for Continued US Aid
While Zelensky has resisted outright concessions of Ukraine’s resources, US President Donald Trump has escalated demands for compensation. In a Fox News interview aired on February 10, Trump stated that Ukraine has "essentially agreed" to provide the equivalent of $500 billion in rare earth minerals in exchange for continued American support.
"I told them [Ukraine] that I want the equivalent like $500B worth of rare earth. And they've essentially agreed to do that so at least we don’t feel stupid," Trump said.
He further justified his position, stating: "Otherwise, we're stupid. I said to them we have to—' we have to get something. We can’t continue to pay this money."
Trump has repeatedly pushed for Ukraine to guarantee mineral access as part of its aid package, a move that has drawn sharp criticism from European leaders.
Zelensky Calls for Investment, Not Exploitation
Zelensky, however, has rejected any unconditional transfer of Ukraine’s resources, instead promoting a partnership model that invites foreign investment into Ukraine’s mining sector. Speaking to Reuters, he noted that while Ukraine holds trillions of dollars in mineral wealth, these resources will not be handed over freely.
"We have mineral resources. This does not mean that we give them away to anyone, even to strategic partners. It is about partnership. Put your money in. Invest. Let's develop this together and make money.”
Despite his initial rejection of the US proposal at Munich, Zelensky has been leveraging Ukraine’s resource wealth as a bargaining tool to maintain Western backing. His administration has reportedly incorporated US involvement in rare earth mining into its "Victory Plan," a framework of post-war economic and security policies designed to ensure long-term peace with Russia.
"The Americans helped the most, and therefore the Americans should earn the most," Zelensky said in a separate interview on February 7, signaling openness to negotiated cooperation.
