U.S.-Ukraine mineral talks at "make or break moment for Ukraine": U.S. official
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Zelenskyy talks with Special Envoy for Ukraine and Russia Keith Kellogg on Thursday. Photo: Vitalii Nosach/Global Images Ukraine via Getty
U.S. and Ukrainian officials negotiated all night into Friday morning in an attempt to conclude a minerals deal and halt the deterioration in relations, a U.S. official and a source with direct knowledge of the issue tell Axios.
Why it matters: The disagreement over minerals helped spark a wider crisis in relations this week. Now Trump administration officials and some in the Ukrainian government are pressing President Volodymyr Zelensky to make a deal.
- The U.S. official and the source familiar said the decision is now up to Zelensky, and both expressed concern that the U.S.-Ukraine crisis will deepen if he rejects the offer.
- The U.S. official called it a "make or break scenario for the Ukrainians."
The latest: "President Zelensky is going to sign that deal and you will see it in the very short term," White House national security adviser Mike Waltz said on Friday at the Conservative Political Action Conference (CPAC).
Breaking it down: The rare earth minerals in question could be worth trillions of dollars in total.
- Zelensky rejected an initial U.S. offer presented by Treasury Secretary Scott Bessent which would have given the U.S. 50% of all revenues from the mining project, infuriating Trump.
- Zelensky had concerns about some provisions of the deal and the fact that it offered no security guarantees for Ukraine. The U.S. side came back with an "improved" offer earlier this week, and has now made additional modifications.
- The exact terms of the current U.S. offer are not clear.
The latest: U.S. envoy Keith Kellogg is still in Kyiv meeting with Zelensky's aides.
- The Trump administration sent to Ukraine the latest version of the mineral agreement on Thursday night, the U.S. official who is involved in the negotiations and a source with direct knowledge told Axios.
- The U.S. official said the modified version of the agreement is aimed at "fixing the situation" between the U.S. and Ukraine.
- The official said a U.S. cabinet secretary — who is not Bessent — was empowered by Trump to make the new offer. The official declined to say which cabinet secretary.
The latest: Kellogg wrote on X on Friday morning that he had a "long and intense day with the senior leadership of Ukraine" including "extensive and positive discussions" with Zelensky.
- The U.S. envoy referred to Zelensky as "the embattled and courageous leader of a nation at war" — a strikingly different characterization than Trump, who called Zelensky an unpopular "dictator."
Editor's note: This story has been updated with Waltz's comment on Friday.
