Zelenskiy claims that Ukraine is not protected by the proposed US minerals pact

President Volodymyr Zelenskiy said on Saturday that the United States had suggested assuming control of half of Ukraine’s vital minerals, and that a draft mining agreement with Washington lacked the security clauses Kyiv required.

As Donald Trump strives to terminate the conflict with Russia, the conversations show the delicate diplomatic seas that Ukraine’s leader must traverse in order to gain his support and obtain post-war security assurances.

During a visit to Kyiv on Wednesday, U.S. Treasury Secretary Scott Bessent unveiled a draft agreement after Zelenskiy outlined the terms of a contract that may allow U.S. investment in Ukraine’s enormous natural resources, according to two people with knowledge of the situation.

Ukraine, which is attempting to establish a relationship with Trump by appealing to his desire for a deal, has not revealed the details of the talks, but two Ukrainian sources said on Friday that Kyiv provided the U.S. side with an updated draft.

In his frankest remarks to date, Zelenskiy described the issue with the U.S. paper as follows when asked by reporters: “it’s not in our interest today, not in (the) interest of (a) sovereign Ukraine.”

“This paper contains relatively few specifics on security assurances. “That is crucial to me: the relationship between some sort of investment and security guarantees,” he added.

Zelenskiy’s team has made it a top priority to ensure that Ukraine receives U.S. guarantees that, after a peace agreement is completed, would prevent Russia from launching another invasion.

The agreement, according to Bessent, may give Ukraine a “security shield” and integrate Kyiv’s economy with the US.

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Reuters was informed by two people with knowledge of the situation that Zelenskiy had refused to sign the agreement on Wednesday after the US submitted a paper suggesting that the US should acquire half of Ukraine’s vital minerals.

The United States’ request for Ukraine, according to a third source, was extremely audacious, concentrating on at least 50% of vital minerals and comparable quantities of other resources over an extended period of time.

No security guarantees were included in the contract, according to one of the individuals. The first two sources stated that Zelenskiy thought the U.S. embassy in Kyiv had drafted the memo.

Trump has stated that Washington’s assistance must be “secured” and that he wants $500 billion in rare earth materials from Kyiv, while lacking a commitment to continue providing Ukraine with critical military supplies.

Rare earth minerals, titanium, uranium, lithium, and other elements may be among the minerals in concern.

There was no indication of a settlement at the Munich Security Conference on Friday, as Zelenskiy concluded talks with a U.S. team headed by Vice-President JD Vance.

In a 90-minute private meeting with a bipartisan group of U.S. senators earlier that day, Zelenskiy expressed his disapproval of the U.S. approach, according to three people familiar with his presentation.

One of them, who wished to remain anonymous, stated that he “felt he was being asked unreasonably to sign something he hadn’t had a chance to read.” “I don’t think he appreciated being given a take-it-or-leave-it thing.”

The source said that Zelenskiy mentioned his own idea for a mining agreement with the US, which was written in accordance with the Ukrainian constitution.

Two individuals described the proposition that Bessent presented as “one-sided,” but they would not provide any details.

When asked if Zelenskiy thought the U.S. approach was biased following the meeting, Democratic Senator Brian Schatz said, “I think that’s fair to say.”

Close supporter of Kyiv, British Foreign Minister David Lammy, stated on Saturday that securing U.S. business, industry, and defense capabilities for Ukraine’s future is the strongest security guarantee against potential Russian invasion.

“That is what will make Putin sit up and pay attention, and that is what’s attractive to a U.S. president who knows how to get a good deal,” he added.