President Zelensky to Visit the U.S. on the 28th
$500 Billion Rights Demand Removed from Draft
Security Guarantees Requested by Ukraine Also Excluded
Under pressure from U.S. President Donald Trump, Ukraine has finally surrendered. Ukrainian President Volodymyr Zelensky will visit Washington on the 28th (local time) to finalize a mineral agreement with the United States. With the mineral agreement, which had been a point of contention between the U.S. and Ukraine, nearing resolution, it is expected that peace negotiations to end the Russia-Ukraine war will also accelerate.
On the 25th, President Trump signed an executive order at the White House and said, "I heard President Zelensky is coming to the U.S. on Friday (the 28th). If he wants to come, of course, I’m fine with it." He added, "Zelensky wants to sign the mineral agreement with me. I know this is a very big deal. It could be worth $1 trillion (about 1,433 trillion won)," indicating that the negotiations are in the final stages.
The New York Times (NYT) also reported on the same day, citing senior U.S. and Ukrainian officials, that "Ukraine has agreed to transfer some of the revenues generated from certain mineral resources to the United States," and that "this came as a result of strong pressure from President Trump, including insults and threats."
Previously, President Trump demanded a 50% stake in rare earth elements from Ukraine in exchange for support but did not offer adequate security guarantees. In response, President Zelensky rejected the proposal. When Zelensky took a firm stance by making NATO membership a condition, President Trump urged him to sign the agreement, warning, "If you don’t move quickly, your country won’t remain."
Some provisions unfavorable to Ukraine, such as the initial U.S. demand for $500 billion (about 716 trillion won) worth of mineral resources, were reportedly removed from the draft agreement. According to the final agreement obtained by the UK’s Financial Times (FT) on the same day, Ukraine will contribute 50% of the revenues generated from future earnings related to state-owned mineral resources such as oil and gas, as well as logistics, to a fund. Part of the fund’s earnings will be invested back into Ukraine. The extent of the U.S. investment in the fund and the scale of the joint ownership deal will be specified in future agreements.
The demand that Ukraine repay double the amount of future U.S. support was also not included. The New York Times (NYT) reported that "this was a clause Zelensky criticized as imposing long-term debt on Ukraine."
The final draft also lacked provisions regarding the security guarantees repeatedly requested by Ukraine. U.S. security guarantees have been a key demand from Ukraine since President Zelensky proposed the mineral agreement.
However, the White House argued that even without specific security guarantees, the mere existence of U.S. economic interests in Ukraine would serve as a deterrent against future Russian aggression. On the 23rd, Mike Waltz, U.S. National Security Advisor at the White House, pressured President Zelensky to sign the agreement during an interview with Fox News, saying, "Is there anything better than Ukraine establishing an economic partnership with the U.S.?"
With the mineral agreement, which had caused conflict between the U.S. and Ukraine, reaching a consensus, peace negotiations between the U.S. and Russia are also expected to gain momentum. On the 24th, President Trump said the war could end within weeks. He stated, "If we are wise, I think the war will end within weeks," and added, "The mineral agreement (with Ukraine) will also be signed soon."
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