Kyiv/Munich — (February 15, 2025); High-level negotiations between Ukrainian President Volodymyr Zelenskiy and U.S. Vice President JD Vance ended in Munich without finalizing a critical minerals agreement, a deal Kyiv sees as essential to securing U.S. support under President Donald Trump.
Ukraine had earlier submitted a revised draft of the agreement, aiming to open its extensive reserves of rare earth minerals, titanium, uranium, and lithium to U.S. investment. However, disagreements over the terms of the deal remain, with both sides pledging to continue discussions.
Zelenskiy acknowledged the ongoing negotiations, stating on social media that both teams are still working on the document and that Kyiv remains committed to securing a “real and guaranteed peace.” However, sources within the Ukrainian delegation indicated that unresolved details are holding up an agreement.
The talks take place against the backdrop of U.S. demands for a $500 billion share of Ukraine’s rare earth minerals and a broader push to integrate Ukraine’s economy more closely with the United States. Treasury Secretary Scott Bessent emphasized that the Trump administration’s vision involves privatization and ensuring U.S. taxpayers benefit from their financial support to Kyiv.
Behind closed doors, Zelenskiy reportedly raised concerns with U.S. senators about the nature of the proposal, suggesting that Ukraine was being pressured to sign an agreement without sufficient review. Some sources familiar with the discussions described the U.S. offer as “one-sided,” with Democratic Senator Brian Schatz admitting that the proposal “needs massaging.”
With no deal reached, Ukraine continues to seek stronger security guarantees alongside any economic partnership, while Washington weighs its strategic interests in the region.
Source: Reuters
