US Treasury Secretary Scott Bessent has pressed Ukraine to swiftly finalize a resource extraction deal, seen as a cornerstone of US-Ukraine economic ties and a condition for continued American support amid delicate peace negotiations with Russia.
Urgency for a Resource Extraction Agreement
During a meeting in Washington on April 23, 2025, US Treasury Secretary Scott Bessent urged Ukrainian Prime Minister Denys Shmyhal to expedite the signing of a resource extraction deal, emphasizing the need to conclude technical talks “as soon as possible,” according to a US Treasury readout. The agreement would grant the United States royalty payments from profits generated by Ukraine’s mining of rare minerals and resources, a deal President Donald Trump views as compensation for the billions in aid provided to Ukraine since Russia’s 2022 invasion. Makalu Khabar reported that Shmyhal’s visit aimed to seal the deal by Saturday, April 26, 2025.
[](https://english.makalukhabar.com/2025/04/250075/)
Context of the Deal and Past Challenges
The proposed deal, which includes access to Ukraine’s valuable rare earth minerals like lithium and uranium, has been a focal point of US-Ukraine discussions. However, a February 2025 clash between Trump and Ukrainian President Volodymyr Zelenskyy derailed progress, with Zelenskyy rejecting a proposal that would have given the US control over half of Ukraine’s mineral extraction, as reported by NV.ua. Critics, including MIT economist Simon Johnson, called the initial US proposal “exploitative,” arguing it could hinder Ukraine’s resource development for decades. Despite this, Bessent described recent talks with Shmyhal as “highly productive,” signaling renewed momentum.
[](https://english.nv.ua/nation/zelenskyy-rejected-trump-s-proposal-for-u-s-control-of-ukraine-s-rare-minerals-50490441.html)Link to Peace Negotiations
The resource deal is intricately tied to broader US-led efforts to broker a peace agreement between Ukraine and Russia. The US has pressured Ukraine to accept a deal that could involve ceding territory occupied by Russia, with Washington threatening to exit negotiations if no agreement is reached soon, according to Reuters. Trump claimed on April 23, 2025, that Russia had agreed to its part of a peace deal, but hours later, Moscow launched a missile attack on Kyiv, complicating diplomacy. CBS News noted that earlier tensions, including a contentious Oval Office meeting, had stalled economic agreements due to Zelenskyy’s insistence on security guarantees.
[](https://www.reuters.com/world/us/us-treasurys-bessent-says-americans-will-see-value-ukraine-them-2025-02-14/)[](https://www.cbsnews.com/news/scott-bessent-treasury-secretary-ukraine-economic-deal-face-the-nation/)- US Objectives: Secure economic benefits through mineral royalties while pushing for a swift end to the Russia-Ukraine conflict.
- Ukraine’s Position: Seeks security guarantees and equitable terms, wary of ceding control over resources or territory.
- Russia’s Actions: Recent attacks, like the Kyiv missile strike, underscore the fragility of peace talks.
Implications and Next Steps
The urgency of the resource deal reflects the Trump administration’s transactional approach to foreign policy, prioritizing economic gains alongside peace efforts. Ukraine’s mineral reserves, potentially worth up to $5 trillion, are seen as a strategic asset, but any agreement must balance US interests with Ukraine’s sovereignty. As talks progress, the outcome will shape US-Ukraine relations and the broader geopolitical landscape. For updates, visit Planet-Today.com.
Author: Planet-Today.com
Scott Bessent Ukraine resource extraction Trump peace deal rare minerals US aid Russia