The US administration has handed over a revised draft of the mining agreement to the Ukrainian authorities, Axios reports, citing sources in both countries. This step was a response to Kyiv’s previous rejection of Washington’s initial proposal, which caused tension in relations between Ukrainian President Volodymyr Zelensky and the Donald Trump administration. The new document, according to the publication’s sources, has been revised to take into account Ukrainian norms and legislation, which makes it more acceptable for Kyiv. Zelensky’s advisers are urging him to sign the agreement in order to prevent an escalation of the conflict with Trump and to maintain US strategic support in the face of ongoing pressure from Russia.

Negotiations on access to Ukrainian mineral resources rich in rare earth metals such as lithium, titanium, etc. have been ongoing for several weeks. Initially, the American side insisted on receiving 50% of the rights to these resources in exchange for military and economic assistance, which caused a sharply negative reaction from Zelensky. He stated that such an approach does not protect Ukraine's interests and does not contain sufficient security guarantees. Now, according to Axios sources, the updated project has become a compromise option, which, according to the Ukrainian leader's aides, can strengthen the partnership with Washington without harming national interests. One of the publication's interlocutors noted that the document is "significantly improved" and is capable of relieving some of the tension between the parties.

Earlier, Zelensky presented his “winning plan,” which included the idea of ​​attracting Western investment in mineral extraction as a way to restore the Ukrainian economy. At the same time, Donald Trump, even before taking office in January 2025, began actively promoting the idea of ​​access to Ukrainian resources in exchange for support for Kyiv. After the inauguration, his administration increased the pressure, offering a deal in early February, which Zelensky rejected, calling it “not ready.” Trump, in turn, publicly criticized the Ukrainian leader, accusing him of breaking the agreements and even calling him a “dictator without elections,” which exacerbated the diplomatic crisis. Zelensky’s meeting with Trump’s special envoy Keith Kellogg on February 20 in Kyiv was an attempt to defuse the situation, and the next day the United States presented a new project.

According to Reuters published the day before, Washington was also considering a simplified version of the deal to speed up the process and leave the details for later, but, judging by the latest news, it chose the path of more thorough revision. Ukraine has some of the largest reserves of rare earth elements in Europe, estimated by Forbes Ukraine in 2023 at $15 trillion.

Against the backdrop of the February 14-16 Munich talks, Zelensky had already discussed the issue with US Vice President James Vance and Secretary of State Marco Rubio. At that time, Kyiv submitted its amendments to the American proposal, insisting on security guarantees and joint, rather than unilateral, development of resources. The new draft, judging by the reaction of sources, partially took into account these wishes. However, the Trump administration maintains a tough stance: according to a White House adviser, told Reuters, "Zelensky needs to be brought back to reality" so that he understands the importance of the deal for the continuation of American aid. Trump had previously estimated the potential benefit of Ukraine's resources at $500 billion, emphasizing that this was compensation for the $350 billion in support already provided.

Zelensky in a recent interview with Reuters stressed that he is ready for partnership with the US, but not for the transfer of resources "for free". He noted that American companies should receive priority in production, but this should be accompanied by investments and jobs for Ukrainians.