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Topics: Donald Trump, Environment, Money, Russia, US News, Ukraine, World News, Politics
Ellie Kemp
Topics: Donald Trump, Environment, Money, Russia, US News, Ukraine, World News, Politics
Donald Trump has secured a minerals deal with Ukraine which he initially claimed could be worth a huge $1 trillion.
Negotiations between US and Ukrainian officials became frayed over the past few weeks, but Ukraine's Prime Minister Denys Shmyhal confirmed a deal had been agreed on Tuesday (February 25).
Last week, President Donald Trump accused Ukraine's President Volodymyr Zelenskyy of being a 'dictator' for turning down a proposal which would've yielded the US an estimated $500 billion in revenue - but didn't include security guarantees for Ukraine.
The country was invaded by Russia in February 2022, with President Zelenskyy this week saying he'd resign from his post 'in exchange for peace in Ukraine or NATO membership,' CNN reported.
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President Zelenskyy is expected to sign the agreement when he meets Donald Trump in Washington on Friday (February 28).
Full details of the raw mineral deal has not yet been made public. However, speaking to Ukrainian TV, Prime Minister Shmyhal confirmed a clause for the US to 'support Ukraine's efforts to obtain security guarantees needed to build lasting peace' is included, the BBC reports.
Meanwhile, Trump told press there would be a need for 'some form of peacekeeping' in Ukraine following any peace deal, but that would need to be 'acceptable to everyone.'
Shmyhal revealed the 'preliminary agreement' will see an 'investment fund' to be set up for the reconstruction of his country.
Kyiv and Washington will manage the money 'on equal terms,' he added.
Trump himself previously claimed the initial draft deal could be worth around $1 trillion for the US.
It's estimated that some five percent of the world's 'critical raw materials' are held in Ukraine, its Deputy Minister of Environmental Protection and Natural Resources Svetlana Grinchuk said in 2022.
These include deposits of lithium, titanium and rare earth metals; a group of 17 elements used in electronics and batteries as well as to build weapons, wind turbines and more.
The country owns reserves holding 19 million tons of graphite - a major component in electric vehicle batteries - which could be worth around $76 trillion.
This is based on figures from Jinsun Carbon which states one ton of natural graphite is worth up to $4,000.
Ukraine also boasts large coal, gas, oil and uranium deposits. Altogether, its raw materials are thought to be worth billions.
However, some of the country's mineral deposits have been seized by Russia.
Yulia Svyrydenko, Ukraine's economy minister, claims resources worth $350bn is caught up in Russian-occupied territories today.