A U.S.-Ukraine economic pact focused on critical minerals is set for signing on Friday, President Donald Trump said.
President Donald Trump said Tuesday that Ukrainian President Volodymyr Zelenskyy is expected in Washington on Friday to sign a major U.S.-Ukraine economic deal focused on rare earths and critical minerals.
“I hear that he’s coming on Friday,” Trump
told reporters in the Oval Office on Feb. 25 when asked whether all outstanding issues in the agreement had been resolved and if Zelenskyy was traveling to Washington to finalize the deal.
“The American taxpayer now is going to get their money back—plus,” he added.
The Epoch Times could not immediately confirm whether the two leaders were scheduled to meet for a signing ceremony. When asked, the White House referred to the president’s earlier remarks in the Oval Office.
However, multiple media outlets reported earlier Tuesday that Kyiv had agreed to the deal, citing senior Ukrainian officials speaking anonymously.
Zelenskyy first proposed an economic partnership with key strategic allies in October as part of his “victory plan,” aiming to jointly develop Ukraine’s vast mineral resources. He later
confirmed he wanted to formalize such a deal with the United States but insisted it must include explicit security guarantees.
Zelenskyy, in a speech in Kyiv on Monday, expressed hope that the agreement would be signed, emphasizing that continued U.S. support is critical to deterring Russian aggression.
Earlier this month, Treasury Secretary Scott Bessent presented Zelenskyy with a framework for a deal during a visit to Kyiv. Zelenskyy initially rejected the proposal, arguing that without security guarantees, it failed to address Ukraine’s long-term sovereignty and stability.
Bessent
downplayed those concerns in a Fox News interview on Feb. 23, saying that while the deal does not contain a formal military provision, it effectively provides an implicit security guarantee. He argued that U.S. investment in Ukraine’s economic future would give Washington a vested interest in preventing foreign threats to its stability.
“I call it an economic security guarantee,” Bessent said.
While it remains unclear what led Zelenskyy to accept the deal, several of Kyiv’s key European allies—particularly Poland and the UK—publicly urged him to do so. They argued that securing American economic engagement would reinforce Washington’s commitment to Ukraine’s sovereignty. Another possible factor was Russian President Vladimir Putin
dangling a deal of his own that would supply the United States with key minerals, including rare earth metals that are critical for many modern technologies.
Olha Stefanishyna, Ukraine’s deputy prime minister leading the negotiations,
told the Financial Times on Tuesday that the deal goes beyond minerals and is “part of a bigger picture” that will deepen Ukraine’s ties with the United States.
According to a Feb. 24 draft of the agreement seen by the Financial Times, the deal establishes a jointly owned fund where Ukraine will contribute 50 percent of future proceeds from state-owned mineral resources, including oil and gas, to be reinvested in domestic projects. Crucially, the final version does not contain the U.S. security guarantees that Kyiv initially sought, leaving key details—such as the American stake in the fund and joint ownership terms—to be determined in follow-up agreements.
In a recent Financial Times op-ed, Bessent
framed the deal as a way to attract private investment and align the long-term interests of both nations, fostering economic growth and stability in Ukraine. He emphasized that the United States would not take ownership of any physical assets but that both sides would benefit from the cooperation.
“President Trump’s proposed partnership aligns the interests of the American people with those of the people of Ukraine,” Bessent wrote. “The president recognizes that national security is built alongside economic security, and the more successful and secure postwar Ukraine is, the more both the Ukrainian people and the people of the U.S. will benefit.”
