US, Ukraine agree to terms of critical minerals deal

The U.S. and Ukraine have agreed on the terms of a draft minerals deal central to Kyiv's push to win Washington's support as President Donald Trump seeks to rapidly end the war with Russia, two sources with knowledge of the matter said on Tuesday.

A source familiar with the contents of the draft agreement said that it does not specify any U.S. security guarantees or continued flow of weapons but says that the United States wants Ukraine to be “free, sovereign and secure.”

One of the sources familiar with the deal said future weapons shipments are still being discussed between Washington and Kyiv.

Trump told reporters that Ukrainian President Volodymyr Zelenskyy wants to come to Washington on Friday to sign a "very big deal." This came after the two leaders exchanged hostile words last week.

The U.S. president, who has cast the deal as a repayment for billions of dollars in aid to Kyiv, also said some form of peacekeeping troops are needed in Ukraine if an agreement to end the conflict is struck. Moscow, which launched an invasion of Ukraine three years ago, has refused to accept any deployment of NATO forces.

Some European countries have said they would be willing to send peacekeeping forces to Ukraine. Trump said on Monday that Moscow would accept such peacekeepers, but the Kremlin denied that on Tuesday.

Trump's rush to impose an end to Russia's war in Ukraine and his lurch toward Moscow has stoked fears of far-reaching U.S. concessions to Russian President Vladimir Putin that could undermine security in Ukraine and Europe and alter the geopolitical landscape.

Trump last week falsely called Zelenskyy an unpopular "dictator" who needed to cut a quick peace deal or lose his country. The Ukrainian leader said the U.S. president was living in a "disinformation bubble."

Officials on both sides have agreed to the draft and advised it should be signed, the sources said.

What is the deal?

Under the terms of a draft minerals agreement, according to sources familiar with its contents, the United States and Ukraine would establish a Reconstruction Investment Fund to collect and reinvest revenues from Ukrainian sources including minerals, hydrocarbons and other extractable materials.

Ukraine would contribute to the fund 50% of the revenue minus operating expenses and continue until the contributions reach the sum of $500 billion. The United States would provide a long-term financial commitment to the development of a “stable and economically prosperous Ukraine.”

Ukraine has deposits of 22 of the 34 minerals identified by the European Union as critical, according to Ukrainian data. They include industrial and construction materials, ferroalloy, precious and non-ferrous metals, and some rare earth elements.

Ukraine's reserves of graphite, a key component in electric vehicle batteries and nuclear reactors, represent 20% of global resources.