On Friday, February 28, President Trump is set to meet with Ukrainian President Volodymyr Zelensky at the White House, with hopes of soon signing a US-Ukraine mineral agreement. The meeting provides Ukraine with an opportunity to secure continued support from the United States. President Trump, after meeting with UK Prime Minister at the White House on Thursday, described the mineral agreement with Ukraine as a crucial “backbone” for Ukraine’s security.
According to a report from Fox Business Channel on Friday, the US and Ukraine have reached an agreement to share profits from mineral and energy development without deducting costs, in order to prevent contractors from inflating expenses. This mineral agreement is expected to be signed during Zelensky’s visit to the White House today, granting the US rights to use Ukraine’s rare earth minerals, oil, and natural gas.
In contrast to traditional agreements, both countries will receive their share of income upfront to ensure financial transparency. Just moments before stepping into the White House, Zelensky posted a diplomatic update on social media, detailing his earlier meeting with US Senators on Friday. He focused on discussions surrounding continuous military aid to Ukraine, relevant legislative measures, his meeting with President Trump, efforts towards achieving lasting peace, Ukraine’s vision for ending the war, and the importance of strong security.
Upon Zelensky’s arrival at the White House at 11:30 am Eastern Time, he received a warm welcome from President Trump. Journalists on site noted that the handshake between Trump and Zelensky was shorter compared to Trump’s handshakes with French President Macron and UK Prime Minister earlier in the week.
The two leaders then proceeded together into the Oval Office, where their meeting was expected to start shortly. When asked if he thought the meeting would be pleasant, President Trump did not respond verbally but gave a thumbs up gesture. Zelensky’s visit to the US follows talks between Russia and the US in Istanbul regarding the resumption of consular activities, with Ukraine-related issues not being the main focus of the negotiations.
Recent discussions in Riyadh, Saudi Arabia, resulted in a loose framework for normalizing relations and economic activities, leading to Zelensky strongly criticizing the Trump administration and Trump questioning Zelensky’s leadership. Zelensky’s arrival in Washington following the Russia-US diplomatic talks is likely to bring pressure on him to reach a final agreement with Trump. Russian President Putin expressed optimism about the future relationship between Russia and the US following the talks.
The US and Ukraine are working towards a natural resource agreement that would allow the US to access untapped mineral resources in Ukraine. President Trump emphasized that the mineral agreement with Ukraine serves as a vital “backbone” for Ukraine’s security. He expressed delight that an agreement had been reached, while Zelensky was more cautious, stating that the agreement could potentially achieve “great success.”
Rumors have circulated in recent weeks regarding whether the US would continue to provide military aid to Ukraine and even sell weapons. The draft agreement aims to establish a “Reconstruction Investment Fund” jointly managed by the US and Ukraine. Ukrainian Prime Minister Denys Shmyhal highlighted that the agreement does not involve Ukraine’s existing minerals, facilities, licenses, or concession fees.
The scope of the agreement extends beyond minerals and rare earths to cover other natural resources in Ukraine such as oil and natural gas, as well as relevant infrastructure like ports and liquefied natural gas terminals. For details regarding the meeting between Trump and Zelensky and their focus on the mineral agreement, please refer to the mentioned source.