The United States is pursuing a new agreement with Ukraine, aiming to secure extensive control over the nation’s critical minerals and energy assets.
Unveiled on Sunday and reviewed by the Financial Times, this draft deal surpasses an earlier economic accord from last month.
It forms a cornerstone of President Donald Trump’s strategy to halt Russia’s invasion of Ukraine while offsetting billions in U.S. military aid.
However, the proposal offers no security guarantees for Kyiv and has ignited fears among Ukrainian leaders of compromised sovereignty, profit losses abroad, and heightened reliance on Washington.
Details of the New Proposed Deal
This sweeping arrangement targets all Ukrainian mineral resources, oil and gas, alongside major energy assets nationwide. Key details of the deal include:
A joint investment fund would be created, governed by a five-member supervisory board. The U.S. would appoint three members, ensuring veto power over decisions.
Profit Distribution: Revenues from Ukraine’s oil, gas, and mineral projects would be divided between the two nations via the fund.
The deal encompasses initiatives by the Ukrainian government, approved companies, and state entities, plus related infrastructure like roads, railways, pipelines, ports, and processing facilities.
Generated funds would be converted to foreign currency and transferred abroad. The U.S. would enjoy a 4% royalty premium, priority rights on infrastructure projects, and veto authority over third-party resource sales. Ukraine would bear liability for delays or disputes.
The draft also credits U.S. contributions since Russia’s 2022 invasion as part of the partnership, framing the deal as a repayment mechanism for military support.
Ukrainian Resistance and Concerns
Ukrainian officials are not in support of the deal. One official labeled the proposal “unfair,” another called it “robbery.” A third official confirmed that legal advisers are dissecting the document to craft a counter-offer. President Volodymyr Zelenskyy, speaking in Paris on Thursday, criticized the U.S. for constantly changing the terms, though he stressed Kyiv isn’t outright opposed.
The deal’s critics warn it could erode Ukraine’s sovereignty, funnel profits overseas, and tether the nation to Washington’s whims. This unease persists despite intense pressure from the Trump administration for a ceasefire compromise, even as Russia shows no sign of relenting.
U.S. Goals and Optimism
The Trump administration sees the deal as a triple win, economic leverage could force Russia to end its invasion. Access to Ukraine’s resources would offset U.S. military aid expenditures. Control over lucrative assets promises long-term benefits.
Treasury Secretary Scott Bessent, speaking on Fox News Wednesday, predicted a signing as early as next week. A Treasury spokesperson reinforced this, underscoring the U.S. commitment to a swift conclusion and a lasting peace for Ukraine and Russia. However, three senior Ukrainian officials dismissed this timeline as unrealistic.
Past Deals and Nuclear Exclusions
This proposal replaces an unsigned framework from last month, which would have allocated 50% of Ukraine’s mineral profits to a joint fund. That accord faltered after a tense Oval Office clash between Trump and Zelenskyy.
Unlike a prior Trump suggestion, the current draft excludes U.S. ownership of Ukraine’s nuclear power infrastructure a contentious idea dropped after earlier talks. Still, one Ukrainian official noted its deliberate omission, hinting at potential future revisits. The U.S. State Department offered no immediate comment.
High Stakes Ahead
The U.S.-Ukraine deal marks a dramatic escalation in Trump’s bid to reshape the Russia-Ukraine conflict through economic dominance. For Washington, it’s a calculated play for peace and profit. For Kyiv, it’s a tightrope walk between survival and independence.
