US slashes Ukraine aid: The United States has revised its estimate for the assistance provided to Ukraine since Russia’s invasion in 2022, lowering the cost from approximately $300 billion to around $100 billion, according to Bloomberg News sources familiar with the matter. This adjustment comes as part of ongoing negotiations between the US and Ukraine.
US President Donald Trump is pursuing a bilateral minerals deal as a key component of his peace efforts to end Russia’s war in Ukraine. Moreover, Trump views this deal as an opportunity to recoup billions of dollars spent on military assistance to Kyiv, despite the aid not being a loan.
Details of the Minerals Deal
The proposed minerals deal would require Ukraine to place all income generated from the exploitation of natural resources by state-owned and private enterprises into a joint investment fund. However, this agreement would not provide Ukraine with any future security guarantees.
Still on US slashes Ukraine aid
Ukrainian President’s Stance
Ukrainian President Volodymyr Zelenskiy expressed optimism about the talks, stating that discussions with the US regarding the minerals deal have been “positive”. He also mentioned that additional meetings are expected to take place.
Terms of the Proposed Deal
The Trump administration’s latest draft proposal for the minerals deal is more expansive than its original version. Key points include.
– Exclusive Access: The US would gain exclusive access to Ukraine’s mineral deposits.
– Joint Investment Fund: Ukraine would be required to invest all earnings from natural resource exploitation in a joint fund.
– No Security Guarantees: The deal would not provide the US security guarantees to Kyiv, a priority for Zelenskiy in Ukraine’s fight against Russian forces.
Upcoming Meetings
Top Ukrainian officials, including Prime Minister Denys Schmyhal and Finance Minister Serhiy Marchenko, are scheduled to meet with the International Monetary Fund (IMF) and World Bank in Washington in two weeks. A ministerial gathering on April 25 will focus on Ukraine, providing a potential platform for further discussions on the minerals deal.
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