BURSTPresident Trump’s administration is ramping up demands on Ukraine in the latest proposal, looking to assume control of all of Kyiv’s critical energy and mineral resources as it pushes ahead to reach a ceasefire in the country’s three-year war with Russia.
The new proposal, which was delivered to Ukraine’s officials Sunday, reaches farther than the initial U.S.-Ukraine minerals deal that was left unsigned on Feb. 28 after Volodymyr Zelensky’s contentious meeting with Trump and Vice President Vance in the Oval Office.
The U.S. is looking to forge a a five-person board that would supervise an investment fund, consisting of three Washington and two Kyiv members, that would split the money made from mineral, gas and oil projects between the U.S. and Ukraine, according to copies of a proposal draft that were obtained by multiple outlets.
Treasury Secretary Scott Bessent said Wednesday the deal could be signed next week.
"We have passed along a completed document for the economic partnership [that] is currently being reviewed by Ukrainians, and we hope to go to full discussions and perhaps even get signatures next week," Bessent said on Fox News.
On Tuesday, Zelensky told reporters Washington had put forward a “major” deal.
"After the framework deal, a full agreement is being developed,” Zelensky said. “Now the U.S. has offered us a 'major' deal, their vision.”
All of the projects that the investment fund would oversee would also include those efforts spearheaded by Ukraine along with corporations approved by Ukraine, according to the Financial Times, which first obtained the draft of the proposal.
The newest proposal also includes infrastructure projects related to the extraction of national resources, including processing plants, ports, pipelines, railways, roads and others, the Financial Times reported.
The revenue created from the U.S.-proposed agreement would be transferred into a foreign currency and sent overseas, while Ukraine would be responsible for the payout if disputes arise, according to the proposal.
The proposal stipulated that the U.S. could veto sales of resources and would get royalties from the fund before Ukraine would. However, the March 23 offer does not contain provisions for Washington to assume control of Kyiv’s nuclear power plants, an idea Trump proposed earlier this month as a way to ensure Ukraine’s protection and deter potential future attacks from Russia.
"American ownership of those plants would be the best protection for that infrastructure and support for Ukrainian energy infrastructure," national security adviser Mike Waltz and Secretary of State Marco Rubio said, adding that Trump said, "the United States could be very helpful in running those plants with its electricity and utility expertise."
When reached for comment, the State Department referred The Hill to Rubio’s remarks to reporters on Wednesday.
“So we’re going to have a chance now to sort of sit down as a team and evaluate, when they arrive, in detail how the meetings went with the Ukrainians, how the meetings went with Russia, what are the Russians asking for, what are the Ukrainians asking for, compare all that, and then make a decision on that basis about what comes next in this process,” Rubio said. “In the end, the goal here is peace. The goal is to end a war where people are dying.”
“It’s not going to be easy. It won’t be simple. It’ll take some time,” the secretary of state added. “But at least we’re on that road and we’re talking about these things, and we’re going to test it and see what’s possible.”
The Hill has reached out to the National Security Council for comment.