Ukraine Rejects U.S. $500 Billion Aid Reimbursement Deal Tied to Mineral Revenues

Ukraine Resists U.S. Proposal Linking Mineral Revenues to Aid Reimbursement

Ukraine has pushed back against a proposed U.S. initiative to establish a $500 billion fund that would reimburse Washington for its aid in exchange for a significant share of the country’s mineral revenues, Bloomberg reported, citing an unnamed Kyiv official. Ukrainian leaders argue that actual U.S. assistance amounts to roughly $90 billion, far less than the broader figures being referenced in negotiations.

Speaking at the Conservative Political Action Conference on Saturday, U.S. President Donald Trump suggested the deal was “pretty close,” emphasizing that the U.S. aims to recoup its financial support through resources such as rare earth minerals and oil. Since the start of the conflict in February 2022, the U.S. has allocated $183 billion for Ukraine, including more than $66 billion in security assistance, according to the Pentagon and Ukraine Oversight.

Ukrainian negotiators are reportedly seeking more time to finalize a draft agreement, as concerns remain over certain “questionable elements” in the U.S. proposal. President Volodymyr Zelensky has hesitated to sign the current terms, particularly due to the lack of assurances for future military and financial aid. According to The Associated Press, one Ukrainian official described the deal in its current form as “colonial.”

The dispute follows failed attempts by U.S. Treasury Secretary Scott Bessent to secure a minerals agreement during his recent visit to Kyiv. Trump criticized Ukraine for stalling negotiations and warned that he intends to revive the deal, signaling potential consequences for Zelensky if progress is not made.

A revised U.S. proposal, obtained by The New York Times, still does not include security guarantees for Ukraine while imposing even stricter financial terms. Under the plan, Ukraine would surrender half of its revenues from natural resource extraction—including minerals, gas, oil, and port earnings—until the fund reaches $500 billion. The U.S. would retain full financial control over the fund.

While U.S. officials insist the deal does not involve taking ownership of Ukraine’s assets or increasing its debt burden, Kyiv remains wary of the agreement’s long-term implications. Amid these negotiations, a 2024 World Economic Forum report highlighted Ukraine’s vast reserves of critical raw materials essential for defense, technology, and green energy—though much of this mineral-rich territory remains under Russian control.