US President Donald Trump has reportedly demanded a 50 per cent share of Ukraine’s revenues from its natural resources, ports, and infrastructure as compensation for the billions of dollars the US has contributed to Kyiv’s war effort. This demand was outlined in a draft contract on the “reconstruction of Ukraine,” which was recently delivered to Ukrainian President Volodymyr Zelensky.
According to The Telegraph, the “Privileged & Confidential” document proposes the creation of a joint investment fund, allowing the US to maintain a 50 per cent stake in Ukraine’s economic activities indefinitely. The deal encompasses revenues from mineral resources, oil and gas, ports, and other infrastructure. Additionally, the US would retain a lien on revenues from new licenses and be granted a right of first refusal for the purchase of exportable minerals. The contract is to be governed by New York law, ensuring US legal oversight.
The proposed deal has reportedly caused “consternation and panic” within the Ukrainian government. Zelensky has not outright rejected the offer but has indicated that it lacks the necessary security provisions Kyiv seeks.
Ukraine’s wealth in critical minerals
Ukraine possesses vast reserves of critical minerals, including 22 of the 34 minerals identified as essential by the EU. These include rare earth elements such as lanthanum, cerium, neodymium, erbium, and yttrium. Before its war with Russia, Ukraine was a significant supplier of titanium, lithium, and graphite—resources that are highly valuable in global markets. If implemented, this agreement would grant the US substantial influence over Ukraine’s economy.