Ukraine Receiving 'US Bill' Expected to Reach 720 Trillion Mineral Agreement This Week

Witkoff, U.S. Special Envoy for the Middle East: "Agreement Expected to Be Signed This Week"
Zelensky: "We Probably Have to Do It"

U.S. President Donald Trump is reportedly set to finalize a mineral agreement worth $500 billion (approximately 720 trillion won) this week, which he has demanded in exchange for the military and financial support the U.S. has provided to Ukraine so far. As the U.S. increases pressure on Ukraine, Ukrainian President Volodymyr Zelensky is leaning toward signing the agreement in a 'reluctant acceptance' manner.

Steve Witkoff, the U.S. Special Envoy for the Middle East, said in an interview with CNN on the 23rd (local time) regarding the mineral negotiations with Ukraine, "We expect to sign an agreement this week."

He added, "You saw President Zelensky hesitate to agree last week, but (President Trump) sent a message, and he is no longer hesitating."

Previously, the U.S. demanded the signing of a mineral agreement with Ukraine that would transfer half of the rare earth stakes to the U.S. in exchange for the support provided so far. When the draft agreement proposed by the U.S. omitted the security guarantees that Ukraine sought, President Zelensky refused to sign. In response, the U.S. sent a warning that it could block Starlink, the satellite internet service operated by SpaceX, a company Ukraine relies on absolutely during the war. President Trump also harshly criticized Zelensky, calling him a "dictator who did not hold elections."

The New York Times (NYT) reported on the 21st that a newly obtained draft agreement includes provisions that Ukraine would transfer half of the revenues generated from natural resources such as minerals, gas, and crude oil, as well as from ports and other infrastructure, to the U.S. The revenues from Ukrainian resources would be deposited into a fund wholly owned by the U.S., and Ukraine would be required to continue contributing money until the fund reaches $500 billion. However, the media noted that $500 billion is more than four times the amount the U.S. has supported or promised to Ukraine so far. Like the previous draft that President Zelensky refused to sign, this draft also did not specifically include security guarantees for Ukraine.

U.S. Treasury Secretary Scott Bessent confirmed in a Fox News interview that the draft does not contain U.S. security guarantees.

Secretary Bessent said, "The more assets U.S. companies have locally (in Ukraine), and the greater the U.S. stake in the future prosperity of Ukraine's economy, the stronger the security for the Ukrainian people." He called this "economic security guarantees." He added, "The agreement will be signed. It will provide leverage to President Trump and send a strong signal to the Russian leadership that the U.S. is in a serious cooperative relationship with the Ukrainian people."

Ukraine appears to be leaning toward signing the agreement under U.S. pressure.

At a press conference held on the eve of the third anniversary of the Russian invasion, President Zelensky said, "If the U.S. condition is 'If you don't sign the agreement, we won't help you,' then the course of action is clear." He added, "If we are forced to (sign the agreement) and cannot do without it, then we probably have to do it." He also said, "As of tonight, $500 billion is no longer an issue."

Furthermore, he indicated that he might step down from the presidency if Ukraine joins the North Atlantic Treaty Organization (NATO), a condition he had previously demanded in peace negotiations. President Zelensky said, "If it brings peace to Ukraine, and if I really have to step down from my position, I am ready. I can trade that for NATO." He added, "If it becomes a condition, I will step down immediately."

Earlier, President Trump criticized President Zelensky, who postponed the presidential election last March under martial law during the war, calling him a "dictator who did not hold elections."

President Zelensky emphasized regarding the bilateral peace negotiations between the U.S. and Russia, "I really want it to be more than just simple mediation," adding, "That alone is not enough." He expressed hope that President Trump would understand his position and urged for security guarantees so that Ukraine can defend itself against Russian attacks.