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Ukraine hands over draft minerals deal to US, Kyiv says
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Ukraine hands over draft minerals deal to US, Kyiv says
Feb 14, 2025 3:11 AM

KYIV (Reuters) -Ukraine finished work on a draft minerals agreement and handed it back to the United States for review, two sources in the Ukrainian delegation at the Munich Security Conference told Reuters on Friday.

The sources said the U.S. side asked for until 5 p.m. (1600 GMT) to review the agreement, which is at the heart of Kyiv's push to win the backing of U.S. President Donald Trump as he strives to bring about a rapid end to the war with Russia.

"The Ukrainian side passed its vision and the U.S. side took a pause until 1700 to assess," one of the sources said.

President Volodymyr Zelenskiy and U.S. Vice President JD Vance had been due to meet in Munich on Friday morning, but their meeting was postponed to 5 p.m. at the request of the U.S. side, one of the sources said.

Asked if there would be a minerals deal agreed between Washington and Kyiv on Friday, Vance said in Munich: "let's see."

Kyiv has said it is ready for an agreement to open up its vast resources of key minerals to U.S. investment as it seeks to obtain U.S. security guarantees as part of any deal to end the war with Russia.

U.S. Treasury Secretary Scott Bessent travelled to Kyiv on Wednesday and Ukraine was presented with a draft accord drawn up by the United States, which Zelenskiy said Kyiv would study with a view to reaching an agreement in Munich.

It is unclear what is in the deal and whether the U.S. draft contained security provisions for Ukraine that it desperately seeks to protect it from a future Russian invasion in the event a peace can be negotiated.

Trump, who has not said whether he will continue vital military assistance to Ukraine, has said he wants $500 billion in rare earth minerals from Kyiv and that Washington's support needs to be "secured".

Zelenskiy set out the contours of a deal in a Reuters interview last week, unfurling a map showing numerous mineral deposits and saying he was offering a mutually beneficial partnership to develop them jointly and not "giving them away".

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