Ukraine has finalized the terms of a crucial minerals deal with the US, according to a senior Ukrainian official. While specific details remain undisclosed, reports suggest that Washington has dropped its initial demand for $500 billion in potential revenue from Ukraine’s natural resources. However, the deal does not include firm security guarantees for Ukraine.

The agreement covers Ukraine’s valuable mineral deposits, including lithium, titanium, and rare earth metals, which are essential for industries like defense, energy, and technology. The deal reportedly involves creating a joint fund where Ukraine will contribute 50% of future proceeds from state-owned mineral resources, oil, and gas. The funds will be used for rebuilding Ukraine’s infrastructure and economy.

US President Donald Trump stated that the deal would help the US recover its financial support given to Ukraine, reinforcing his “America First” policy. Meanwhile, concerns are growing in Kyiv and Europe about possible US-Russia negotiations that could exclude Ukraine.

Russia, too, has offered the US access to its mineral resources, including those from occupied Ukrainian territories. With Ukraine holding around 5% of the world’s critical raw materials, this deal marks a significant step in US-Ukraine economic cooperation.