The much-anticipated U.S.-Ukraine minerals deal has hit a roadblock after a fiery exchange led to the cancellation of a press conference at the White House on Friday. U.S. President Donald Trump and Ukrainian President Volodymyr Zelenskyy were set to sign an agreement granting the U.S. access to Ukraine’s rich deposits of rare earth minerals.
The deal aimed to strengthen U.S. supply chains for critical raw materials, including graphite, which is essential for manufacturing batteries used in electric vehicles. Ukraine boasts approximately 19 million tonnes of proven graphite reserves, making up about 5% of the world’s critical raw materials.
Tensions arose as the U.S. demanded substantial “payback” for its previous support to Ukraine. In return, Ukraine sought future assistance and concrete security guarantees from the U.S., leading to a stalemate in negotiations.
The unexpected cancellation of the press conference has left uncertainties surrounding the future of the deal. Analysts suggest that both nations have much to gain from the partnership, and hope remains that discussions will resume.
