Zelensky Rejects Trump Administration Demand for Half of Ukraine’s Mineral Resources

President Volodymyr Zelensky of Ukraine, during a closed-door meeting on Wednesday, rejected an offer by the Trump administration to relinquish half of the country’s mineral resources in exchange for U.S. support, according to five people briefed on the proposal or with direct knowledge of the talks.

The unusual deal would have granted the United States a 50 percent interest in all of Ukraine’s mineral resources, including graphite, lithium and uranium, according to two European officials. But it was unclear whether this was meant as compensation only for past American support to Kyiv’s war effort against Russian invaders, or if it would also come in exchange for future military and financial assistance.

On Sunday, the U.S. national security adviser, Mike Waltz, indicated it was at least partly for past support. “The American people deserve to be recouped, deserve to have some kind of payback for the billions they have invested in this war,” he was quoted as saying. “I think that Zelensky would be very wise to enter into this agreement with the United States.”

A Ukrainian official and an energy expert briefed on the proposal said that the Trump administration sought not only Ukraine’s minerals but additional natural resources, including oil and gas. The proposal, they said, would entitle the United States to half of Ukraine’s resource earnings — funds that are today mostly invested in the country’s military and defense production.

Mr. Zelensky, who has shown openness to leveraging Ukraine’s mineral resources in negotiations with allies, said he rejected the deal because it did not tie resource access to U.S. security guarantees for Kyiv in its fight against Russia.

Negotiations are continuing, according to a second Ukrainian official, who, like the others, spoke on the condition of anonymity given the sensitivity of the talks. But the expansiveness of the proposal, and the tense negotiations around it, demonstrate the widening chasm between Kyiv and Washington over both continued U.S. support and a potential end to the war.