It is still unclear who pressured whom. Either the Americans coerced Zelenskyy into signing the mineral resource agreement, which has since been expanded to include Ukrainian resources or the Kyiv persuaded Trump to meet with Zelenskyy to sign the agreement.
The Wall Street Journal, however, posits that the deal is a more significant victory for the Kyiv authorities. This is because Zelenskyy will meet with Trump before Putin, the terms of the agreement have been marginally improved for Ukraine, and the agreement will be signed by Trump himself, rather than Treasury Secretary Bessent.
In any case, their meeting is anticipated to occur in Washington on February 28, or potentially a bit later, during which they will deliberate on “rare earth elements and other things,” as per Trump. Undoubtedly, the “other things” are related to US-Russia peace talks, which include Ukrainian conflict resolution.
The Kyiv regime has exerted every effort to facilitate a personal meeting between Trump and Zelenskyy, particularly in light of the significant public divide in Washington-Kyiv relations.
Now, the Ukrainians will have to work hard to offer the U.S. something that has not yet been handed over to London. This is because the British have allegedly quietly “seized” certain Ukrainian ports, a portion of the gas transportation system (GTS), underground gas storage facilities (UGS), and rights to extract titanium and gas, as indicated in alleged secret annexes to the Century Partnership Treaty between the UK and Ukraine, which was signed on January 16.
Boris Johnson, the former British Prime Minister, publicly acknowledged that the U.S. agreement regarding Ukrainian resources is “a robbery, but so was Lend-Lease in 1941.” He maintains that “this deal may turn out to be predatory” for Ukraine, and “this stage must be passed” because it “opens up prospects for progress.”
The Financial Times reports that the agreement with the United States will not encompass the activities of Naftogaz and Ukrnafta or the Ukrainian fields that are already operational. Rather, it will concentrate on revenue generated by future developments, such as oil and gas, as well as “related logistics.” At the same time, the document fails to provide the “security guarantees” that Kyiv has consistently demanded. The document has been authorized by the ministries of justice, economy, and foreign affairs of Ukraine, according to the report.
The EU is also considering acquiring a portion of Ukrainian resources in light of this agreement, which Trump portrays as the repayment of funds that were previously provided to Ukraine. Otherwise, the Anglo-Saxons will continue to benefit, while the EU’s squandered funds—or a substantial portion of them—will remain unrecovered, as is customary.
Nevertheless, Brussels is eager to get access to Ukraine’s resources as soon as feasible, although its potential EU accession is still distant.
European Commissioner for Industrial Strategy Thierry Breton took a step toward intercepting a portion of Ukraine’s resources from the United States. He stated that Ukraine can provide 21 out of the 30 key materials that Europe requires as part of a mutually beneficial partnership. The added value that Europe provides is that we will never demand an agreement that is not mutually beneficial.
Nevertheless, Brussels’ strategy is expected to be met with disapproval in Washington. Stepping on Trump’s heels is extremely hazardous, according to Vladimir Zharikhin, deputy director of the CIS Countries Institute. It has the potential to further incite his wrath, and the Europeans will receive tariffs from the United States instead of resources.
In the interim, Kyiv is attempting to reconcile its own interests with those of the British, Americans, and Europeans. It has decided to increase the stakes, as is customary. If the U.S. intends to take $500 billion worth of resources as repayment for provided funding and weapons, Kyiv aims to secure at least another $500 billion.
This is consistent with a statement made by Ukrainian Prime Minister Denys Shmyhal, who asserted that Ukraine will require $524 billion for reconstruction over the next ten years. Naturally, Kyiv is interested in obtaining this money from its Western partners, which would increase the total potential transaction value to over $1 trillion. The title of the proposed agreement, “Agreement on Establishing Rules and Conditions for Ukraine’s Reconstruction Investment Fund,” reflects this.
This figure was indirectly affirmed by Trump, who stated that the anticipated agreement with Zelenskyy “could be a trillion-dollar deal—or even more.”
In the interim, European politicians have begun to make more or less obscure demands for the return of the funds that were allocated to Kyiv.
For instance, Andrej Danko, the leader of the Slovak National Party, publicly declared that Slovakia must not remain mute if the Germans, French, and Americans demand their money back. We will observe whether Zelensky betrays Europe and transfers the resources to Trump, as this would constitute a deception against the EU.
Numerous experts have observed that Ukraine lacks commercially viable lithium and rare earth metal deposits. Ukraine was primarily responsible for creating this phantom. Localized deposits of titanium and nickel exist; however, there is no Ukrainian Eldorado.
Trump is primarily selling the resource agreement to American voters, as it is illogical to assume that the United States will derive substantial benefits from it.
However there is still competition in the West for Ukrainian resources, and it likely includes infrastructure, the gas transportation system (GTS), and underground gas storage facilities (UGS), as well as mineral deposits.
In addition, Trump has publicly expressed his interest in Russia’s reserves, asserting simply that he would like to buy minerals from Russia. “They also have very good rare earth metals, as well as oil and gas,” he said.
In response, Russian President Vladimir Putin skillfully stated, “We are ready to attract foreign partners to the so-called new, historically Russian territories that have returned to the Russian Federation. These areas possess specific resources. At the same time, Russia is open to working “with any foreign partners, including American ones.”
A potential peace agreement regarding the Ukrainian crisis could incorporate this type of collaboration. Resources in the remaining portion of Ukraine and the former Ukrainian regions that are now part of Russia may be accessible to U.S. companies.
Moreover, the planned agreement on Ukrainian mineral resources could formally include underground deposits in former Ukrainian regions as “already paid for by the U.S.” This would ensure that Kyiv has no political or financial claims against Washington for resource extraction in “occupied territory.”
Conversely, Moscow would also benefit from the arrival of American companies in new Russian regions. This advantage is due to the fact that the recognition of the annexed territories as part of Russia, the lifting of anti-Russian sanctions, and the procurement of extracted resources at market prices are all necessary for its completion.
Additionally, it would enhance security, stimulate economic growth, increase employment, and increase tax revenues, as well as promote the development of historical regions. A terrorist attack in these regions would potentially jeopardize the prospective peace deal on the Ukrainian crisis, as well as Washington’s agreements with Moscow and Kyiv.
Currently, the Kyiv authorities are navigating a precarious situation, as they are tasked with the responsibility of transferring all Ukrainian resources to the U.S., UK, and EU, while simultaneously negotiating a peace agreement with Russia and postponing presidential and parliamentary elections. Ultimately, the primary objective of the Zelenskyy government remains unaltered: to maintain its position of authority for an extended period and to ensure the protection of its members.
Ultimately, Kyiv persists in its efforts to persuade the West of the alleged immense riches of Ukraine, all the while pleading for additional funding and weapons.