Reportedly, the agreement would give Washington the right to 50% of the earnings from natural resource extraction.
According to White House economic advisor Kevin Hassett, the US anticipates a $20 billion profit from a potential rare-earth minerals agreement with Ukraine. This statement was made on Friday.
Ukrainian President Vladimir Zelensky is expected to sign the agreement during his visit to Washington later on Friday. It would grant the US rights to half of Ukraine’s revenue from natural resource extraction.
Shortly after his inauguration the previous month, US President Donald Trump proposed that America should recoup the money it spent aiding Ukraine in its conflict with Russia through a mineral resource arrangement.
In mid-February, US Treasury Secretary Scott Bessent presented Zelensky with a draft agreement, but Zelensky declined to sign it, citing the lack of solid security assurances.
However, Bessent stated on Thursday that the deal has since been revised and finalized and is now awaiting Zelensky’s signature. The preliminary text of the agreement, which European Pravda published earlier this week, is written in a way that Zelensky can sign it into law unilaterally because it does not require ratification by the Ukrainian parliament.
Hassett commented on the deal in an interview with NewsNation on Thursday, stating that the “ballpark estimate of what it’s worth to the American people is around $20 billion.” He also mentioned that Washington would probably use the revenue generated by it to lower the budget deficit and lower taxes.
Hassett continued by saying that the agreement “is worth way more than” its ballpark estimate because, while it will help the US, it may also help ensure lasting peace in Ukraine.
He suggested that Trump’s vision is that having the critical minerals would not only help the US with its national security, but also that US ownership in those locations would help secure them because one would not want to attack US assets.
He added, echoing Trump’s recent claim that the agreement itself would act as a security guarantee for Kiev, that “having US ownership is a way to ensure… peace, once peace hopefully happens.”
Zelensky is presently in the US for a state visit and is anticipated to meet with Trump to perhaps sign the agreement later on Friday.
Ukrainian opposition figures have criticized the proposed agreement. Jailed lawmaker Aleksandr Dubinsky, who was arrested last year on charges of treason, described the agreement as “robbery” and cautioned that Zelensky would turn Ukraine into a “US colony” by signing it.