The U.S. has proposed signing a new "major" minerals deal with Ukraine based on a previous framework agreement, President Volodymyr Zelensky told reporters on March 25.
A day before, U.S. President Donald Trump said that he expected to sign the U.S.-Ukrainian mineral agreement "soon." Zelensky didn't mention any timelines.
The two nations had previously planned to sign a minerals deal on Feb. 28, but the plan was derailed after a heated clash between Trump and Zelensky at the White House.
"After the framework deal, a full agreement is being developed. Now the U.S. has offered us a 'major' deal, their vision (of the deal)," Zelensky said.
According to Ukraine's president, officials have yet to explain to him further details about the agreement, which can be ratified by the Ukrainian parliament if a deal is made.
Zelensky also said that the new version of the agreement doesn't include a clause on Ukraine's nuclear power plants.
Previously, Trump said that Washington and Kyiv were discussing a deal under which the U.S. would own a Ukrainian power plant. He did not specify which facility he was talking about.
Zelensky said he had discussed with Trump the possibility of U.S. assistance in restoring the Zaporizhzhia Nuclear Power Plant (ZNPP), the largest nuclear facility in Europe. The plant, which is located in the town of Enerhodar on the east bank of the Dnipro River, remains under Russian occupation, and Ukraine has no access to the surrounding territory.
According to the initial version, the minerals agreement would establish a fund to which Ukraine would contribute 50% of proceeds from the future profits of the extraction of the state-owned resources, including oil, gas, and logistics infrastructure.
Ukraine rejected previous versions of the deal on the grounds that they lacked concrete security guarantees.
The final deal, which Kyiv approved, did not provide security assurances but did include a line that says the fund "will be reinvested at least annually in Ukraine to promote the safety, security and prosperity of Ukraine."
The White House has characterized the agreement as a way for the U.S. to "recoup" the financial aid it has directed to Kyiv since the start of Russia's full-scale invasion.
Kateryna Denisova
(Updated: )
