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“Antagonistic” tone marks US-Ukraine minerals deal talks, says Reuters source

US-Ukraine mineral talks deteriorate as Trump administration demands privileged resource access and control of Russian gas pipeline through Ukraine.
byYuri Zoria
12/04/2025
3 minute read
antagonistic tone marks us-ukraine minerals deal talks says ukrainian trump has called proposed one “rare earths” though likely meant critical ukraine lacks major rare earth reserves holds some world’s largest
Ukrainian minerals. Trump called his proposed deal one on “rare earths,” though he likely meant critical minerals, as Ukraine lacks major rare earth reserves but holds some of the world’s largest deposits of graphite, lithium, titanium, beryllium, and uranium, all classified as critical by the US, per CNN. Map: CNN, based on Ukrainian Geological Survey, US Geological Survey, The Institute for the Study of War with AEI’s Critical Threats Project
“Antagonistic” tone marks US-Ukraine minerals deal talks, says Reuters source

Negotiations between US and Ukrainian officials regarding American access to Ukraine’s mineral resources have deteriorated into an “antagonistic” atmosphere, Reuters reports, citing a source with knowledge of the matter.

Amid the ongoing Russo-Ukrainian war, Trump is pushing Ukraine to enter talks with Russia—allegedly to end the war—while pressuring Kyiv to accept a colonial-style mineral deal granting the US exclusive access to critical resources, including rare earths. The initial draft of the deal required Ukraine to contribute 50% of profits from future resource extraction to repay US military aid provided since 2022, which the Trump administration retroactively reclassified as a loan. The latest revised version escalated the contribution to 100%, with a 4% annual interest, before Ukraine could even access any profits.

According to Reuters, 11 April talks revealed significant obstacles to reaching an agreement after the Trump administration submitted what the source described as a “maximalist” draft proposal last month, which greatly expanded demands compared to earlier versions.

The Treasury Department confirmed to Reuters that discussions were taking place but only characterized them as “technical in nature.”

The source told Reuters that the latest US proposal seeks privileged access to Ukraine’s mineral deposits while requiring Kyiv to channel all income from natural resource exploitation—including from both state and private Ukrainian firms—into a joint investment fund, while not providing security guarantees for Ukraine.

Reuters’ source said one surprising “Easter egg” in the document was a US demand for the International Development Finance Corporation to assume control of a natural gas pipeline that transports Russian gas across Ukraine to European markets.

Ukraine’s President Volodymyr Zelenskyy commented on the ongoing talks earlier this week, stating that any minerals agreement should benefit both nations and potentially help modernize Ukraine, as reported by Reuters.

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