President Volodymyr Zelensky confirmed that Ukraine and the United States have agreed to a framework agreement on minerals. The full text of the agreement was previously published by the media.
Zelensky stated this at a briefing broadcast by Suspilne.
"The agreement does not include $500 billion in debt, or $350 billion, or $100 billion. That would be unfair to us. If we are talking about the fund, this is also a resolved issue in this framework agreement, so I believe that there are partners there," Zelensky said.
The framework agreement lists Ukraine and the United States as co-owners of a fund to which Ukraine will transfer 50% of the income from future mining and rare earth metals. Zelensky says government officials are evaluating the document “quite favorably”.
Zelensky also said that the agreement does not specify all the security guarantees that Ukraine wants. However, the text states that the United States supports "Ukraineʼs efforts to obtain security guarantees necessary for a sustainable peace".
"There are not all the security guarantees that Ukraine wanted to see, but I wanted there to be at least a sentence about guarantees [in the framework agreement], and it is in the framework agreement, paragraph 10, I think," the president emphasized.
The president also announced that this agreement is a framework agreement and is not subject to ratification. The US and Ukraine will then work on a detailed agreement, which will be ratified by the Verkhovna Rada after approval and signing by both parties.
What kind of agreement on Ukrainian minerals?
The US Treasury Secretary Scott Bessent brought a pilot draft of a minerals agreement to Ukraine on February 12. Washington had hoped that Kyiv would sign it immediately. President Zelensky said that he had banned the agreement because it would not protect Ukraine’s interests — it had no connection to investments, profits, or security guarantees.
Previously, Trump stated that Ukraine had "essentially agreed" to transfer half a trillion dollars worth of rare earth metals to Washington as payment for American military aid.
Ukraine said it was ready to sign an agreement on rare earth metals, but Kyiv needed security guarantees. Zelensky added: “The document was clear in only one thing — we must give 50% of everything that is listed there.”
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