WASHINGTON (dpa-AFX) - Reports quoting Ukrainian officials say Ukraine has agreed to a deal allowing American firms access to the country's vast deposits of valuable rare earth minerals, in exchange for Washington's continued military aid and contribution to a reconstruction fund for Ukraine.
The terms of what would be a big win-win deal were agreed after 'everything unacceptable was taken out of the text and it is now more clearly spelt out how this agreement will contribute to Ukraine's security and peace,' media outlets quoted a Ukrainian official as saying.
The Trump administration had demanded a $500 billion share of Ukraine's rare earths and other minerals in return for the ongoing military aid, worth hundreds of billions since the Russian invasion.
The clauses of the agreement have not yet been revealed, but Washington has reportedly dropped this demand.
Speaking to the media from the Oval Office on Tuesday, President Donald Trump said he expects Ukrainian President Volodymyr Zelensky in Washington on Friday to sign a minerals deal.
'I hear that (Zelensky is) coming on Friday. Certainly it's OK with me if he'd like to, and he would like to sign it together with me. And I understand that's a big deal, very big deal.'
If confirmed, Zelensky will be the third European leader to meet Trump this week.
Trump hosted French President Emmanuel Macron at the White House on Monday, while UK Prime Minister Keir Starmer is due to leave for Washington on Wednesday.
Trump said the benefits that Kyiv will get from the deal will mainly include '$350 billion and lots of equipment, military equipment, and the right to fight on.'
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