 "US President Donald Trump shouts at Ukrainian President Volodymyr Zelenskiy during their interaction with the press at the White House in Washington, DC, on February 28, 2025. (Photo: Reuters)")
US President Donald Trump has warned of “big problems” if Ukrainian President Volodymyr Zelenskyy would not accept the new minerals deal proposal.
The Trump administration has proposed a new minerals deal to Ukraine in which the United States seeks near-total control of all critical minerals, oil, and gas projects in the country and a veto on how the country’s natural resources are managed. The proposal’s maximalist objectives go even further than the initial proposal that Zelenskyy had rejected in February over concerns that it amounted to the country’s economic colonisation by the United States.
In remarks to the media on Air Force One, Trump on Sunday said he felt that Zelenskyy wanted to reject the current proposal.
Trump said, “I think Zelenskyy, by the way, he’s trying to back out of the rare earth deal, and if he does that, he’s got some problems — big, big problems. We made a deal on rare earths, and now he’s saying, ‘Well, you know, I want to renegotiate the deal.’ He wants to be a member of Nato. Well, he was never going to be a member of Nato. He understands that, so, if he’s looking to renegotiate the deal, he’s got big problems.”
Trump has falsely claimed that Zelenskyy is renegotiating the deal that had been reached. It’s the United States that has come up with a new proposal to replace the one that was agreed upon in February and was set to be signed during Zelenskyy’s visit to the White House — before Vice President JD Vance and Trump started berating Zelenskyy and kicked him out without signing the deal.
While the deal that was set to be signed during Zelenskyy’s visit to the White House on February 28 was a sober version that was seen as the two sides reaching a middle ground , the deal currently on the table not just reverts to the initial maximalist objectives but goes even further. For example, in the deal set to be signed on Feb. 28, only revenue generated from projects started after the signing of the deal would be covered but the new proposal covers all projects public and private.
Impact Shorts
View AllIn the new proposal, the United States not just seeks to be repaid for nearly $100 billion it has provided to Ukraine, but seeks an interest of 4 per cent, converting aid into loan retrospectively, according to The New York Times.
The newspaper has reported that all profits from the projects overseen by the joint investment fund under the deal would go to the United States until around $100 billion plus 4 per cent interest have been paid. Then, the profits may be shared with Ukraine.
With three of the five members of the board nominated by the United States, the Trump administration would also essentially control the board, as per The Times.
The United States would also retain the right of first offer on all new projects to be started in Ukraine and veto over any projects that Ukraine may want to start.