It reportedly gives the US half the future proceeds from the industry, but says nothing of security guarantees

Kiev has agreed to a softened version of US President Donald Trump’s earlier demand for US access to hundreds of billions of dollars’ worth of Ukrainian mineral resources, Financial Times (FT) and Ukrainska Pravda reported on Tuesday.

FT said that the Ukrainians agreed to sign after the US dropped demands for a right to $500 billion in proceeds from the resources. Kiev had been disputing this figure, insisting that Washington has actually provided Ukraine with only $100 billion in aid.

The final draft, dated Monday and seen by the outlet, would require Kiev to create a fund and set aside 50% of the revenue from the “future monetization” of its state-owned mineral resources, including oil and gas and related logistics. The fund would invest in Ukrainian industries.

According to FT, this monetization would not cover resources already generating revenue for the Ukrainian government, such as the country’s gas and oil companies Naftogaz or Ukrnafta.

However, the document reportedly doesn’t outline the size of the stake Washington will hold in the fund. The terms of “joint ownership” deals are to be determined in future agreements, FT wrote.

Additionally, it does not provide Ukraine any US security guarantees, both FT and Bloomberg wrote on Monday. Binding Kiev to the US via economic ties, however, would provide a de facto security shield, Bloomberg said, citing US officials. 

The agreement stipulates that Washington intends to make a “financial commitment to assist Ukraine,” but the extent of this assistance will be determined at a later date, Ukrainska Pravda wrote on Tuesday.

Ukraine’s Vladimir Zelensky may visit the White House in the coming weeks for a signing ceremony with Trump, the FT report said. Kiev officials told the publication that the nation’s justice, economy, and foreign ministers approved the deal.

Initially presented by US Treasury Secretary Scott Bessent on a visit to Kiev earlier this month, Zelensky rejected the proposal, citing the lack of security guarantees. Commenting on the deal back then, Zelensky stressed that “I am not signing something that will be paid by ten generations of Ukrainians.”