By all accounts the hold-up in the US and Ukraine potentially agreeing to a final mineral deal has been President Zelensky's refusal to sign - seeing in it selling off Ukraine's economic sovereignty; however, sources on both sides strongly suggest a deal is very close.
"I will not sign what ten generations of Ukrainians will have to pay back," said President Volodymyr Zelenskyy at a press conference Sunday. President Trump is seeking access to some $500 billion in the country's minerals, including rare earths, to repay Washington for its wartime aid.
Kiev as well as many of its European partners have complained that the deal offers no clear security guarantees or even the promise of future aid in return. Instead it appears set up to repay the US billions in past aid, and Ukrainian officials and the media have described it as punitive.
The Ukrainian leader described this weekend:
“Let’s first clarify the $500 billion figure. I know that we had $100 billion [in US aid provided to Ukraine], and that’s a fact. But I’m not going to acknowledge $500 billion, regardless of what anyone says, with all due respect to our partners,” Zelensky told reporters at the “Ukraine Year 2025” forum.
Still, there appears have been some weekend progress, and the Zelensky government knows it's in no position to fiercely push back, also given that the Trump administration is essentially calling for a near-future change in leadership at this point, having blasted Zelensky as a 'dictator'.
"Ukrainian and U.S. teams are in the final stages of negotiations regarding the minerals agreement. The negotiations have been very constructive, with nearly all key details finalized. We are committed to completing this swiftly to proceed with its signature," Ukrainian Deputy Prime Minister and Minister of Justice Olga Stefanishyna stated on X Monday.
"We hope both US and UA leaders might sign and endorse it in Washington the soonest to showcase our commitment for decades to come," Stefanishyna added.
A fresh description from US officials involved say the deal will commit to a "free, sovereign and secure" Ukraine and achieving a "lasting peace" as part of it. This will include the US agreeing to "durable partnership" between Washington and Kiev, the texts shows as reported by Bloomberg.
The latest draft also stipulates that those who "acted adversely" to Ukraine in the war should not "benefit from its reconstruction" - Bloomberg has also noted.
Earlier this month, when talk of a mineral deal plan was first being floated by the White House, Zelensky expressed openness, though he was also likely attempting to be diplomatic and conciliatory, not thinking such an agreement would be pushed this hard by Trump, or realistically get off the ground.
"If we are talking about a deal, then let’s do a deal, we are only for it," Zelensky had told Reuters at the time. The Ukrainian leader insisted the deal wouldn’t involve "giving away" Ukraine's resources but framed it as a partnership.
But now with the details being hammered out and put into place, he clearly understands it to be very heavily skewed in Washington's favor, and not benefiting future generations of Ukrainians.