The agreement will reportedly grant Washington rights to 50% of the income from natural resource extraction
The US expects to make $20 billion from a proposed rare-earth minerals deal with Ukraine, White House economic adviser Kevin Hassett said on Friday.
The agreement, which is expected to be signed by Ukrainian leader Vladimir Zelensky during his visit to Washington later on Friday, would grant the US rights to half of Ukraine’s income from natural resource extraction.
US President Donald Trump – shortly after his inauguration last month – pitched the idea that America should “get back” the money it spent on aid to Ukraine in its conflict with Russia through a mineral resource deal.
In mid-February, US Treasury Secretary Scott Bessent presented a draft agreement to Zelensky, but he refused to sign it, citing the absence of firm security guarantees.
Bessent said on Thursday, however, that the deal has since been amended and finalized, and is only awaiting Zelensky’s signature. The preliminary text of the agreement, published by European Pravda earlier this week, is formulated in such a way that it does not require ratification by Ukraine’s parliament, meaning Zelensky can sign it into law unilaterally.
“The ballpark estimate of what it’s worth to the American people is around $20 billion,” Hassett said in an interview with NewsNation on Thursday, commenting on the deal. He added that Washington will likely use the revenue generated under it to reduce the budget deficit and cut taxes.
Hassett went on to claim that the deal “is worth way more than” its ballpark estimate, because while it will benefit the US, it could also help ensure lasting peace in Ukraine.
“I think [Trump’s] vision is that not only will it help us with our national security to have the critical minerals… but also, if there’s US ownership in those places, it will help secure those places, because you, of course, wouldn’t want to be attacking US things,” he suggested.
“Having US ownership is a way to ensure… peace, once peace hopefully happens,” he added, echoing Trump’s recent suggestion that the deal itself would serve as a security guarantee for Kiev.
Zelensky is currently in the US for a state visit and is expected to meet with Trump to potentially sign the deal later on Friday.
The proposed agreement has been met with criticism from Ukrainian opposition figures. Jailed lawmaker Aleksandr Dubinsky, who was arrested last year on charges of treason, called the deal “robbery” and warned that by signing it, Zelensky would turn Ukraine into a “US colony.”
