U.S., Ukraine near deal for Ukrainian critical minerals rights

The U.S. and Ukraine are nearing a deal that would allow Kyiv to provide Washington with rare earth minerals rights as compensation for billions of dollars in military aid Ukraine has received.

Lee Seung-jae reports.

Since Russia's invasion of Ukraine in February 2022, U.S. Congress has approved some 183 billion U.S. dollars worth of assistance for Ukraine.

U.S. President Donald Trump has sought a deal that would not only have Ukraine repay the U.S. for its financial support for the years, but more on top.

The deal calls for the U.S. to take 50 percent of Ukraine's mineral and natural resources revenues worth 500 billion dollars.

But the deal would include not only revenue from rare earth, but uranium, lithium, oil, gas, and even some port revenues.

The deal also specifies that U.S. companies must hold 50 percent ownership of Ukraine's rare earth elements deposits.

This would allow the U.S. to receive more than three times what was given to Kyiv for its military and humanitarian support in the past three years.

While Ukrainian President Volodymyr Zelenskyy initially rejected the deal calling for security guarantees, reports indicate that a deal may be near.

Speaking to CNN on Sunday, U.S. Special Envoy to the Middle East Steve Witkoff said the agreement is expected to be signed sometime this week.

Meanwhile, President Zelenskyy has offered to resign from office, in exchange for a peace guarantee and Ukraine's membership in NATO.

"If it's about peace in Ukraine and you really want me to leave my position, I am ready to do that. Secondly, I can exchange it for NATO membership if there is such an opportunity. I'll do it immediately without a long conversation about it."

However, earlier this month U.S. Secretary of Defense Pete Hegseth said Kyiv joining NATO was unrealistic, shooting down any prospects of Ukraine's membership.

Washington and Moscow will hold talks on improving bilateral relations in the coming days.

The Kremlin said that the meeting will involve the Russian Foreign Ministry and the U.S. State Department.

It's been reported that the two sides have already begun talks to schedule a summit meeting with Trump and Russian President Vladimir Putin.Lee Seung-jae, Arirang News.

Lee Seung-jae, Arirang News