The Trump administration has presented an “improved” mineral agreement proposal to Ukraine after Ukrainian President Volodymyr Zelensky refused to sign the initial offer, a move that angered the American president. This development has been confirmed by Ukrainian and American officials, as well as three independent sources cited by Axios.

This disagreement further strained the already tense relations between the two leaders, with Trump branding Zelensky a “dictator” who chose war with Russia, while Zelensky accused Trump of pushing “Russian disinformation.” However, according to Axios sources, the chances of reaching an agreement now appear more realistic.

A source familiar with the negotiations stated that Zelensky’s close advisors encouraged him to sign the revised proposal, in order to avoid further confrontation with Trump and secure continued U.S. support for Ukraine.

“The new plan includes significant improvements and aligns with Ukrainian legislation,” the same source stated.

U.S. National Security Advisor Mike Waltz urged Zelensky to return to the negotiation table. “This is a negotiation. Ukraine wants to discuss minerals, and that’s why we’re talking,” a White House official said.

Ukraine has vast reserves of rare earth elements, which are critical for advanced technologies. The total value of these minerals could reach trillions of dollars. Although the agreement is not directly linked to a possible peace settlement in the Ukraine war, the two issues have dominated this week’s developments.

The Timeline

The idea of a U.S.-Ukraine economic partnership was first introduced by Zelensky last September, during his meeting with Trump in New York.

Last week, just hours before U.S. Treasury Secretary Scott Bessent’s meeting with Zelensky in Kyiv, the U.S. embassy delivered a draft agreement on minerals.

The initial proposal stipulated that 50% of the revenue would go to the U.S., the agreement would fall under New York law, and it would override any other trade agreements Ukraine had, according to two sources who reviewed the document.

During his meeting with Zelensky, Bessent conveyed Trump’s demand for an immediate signature. The Ukrainian president refused, stating that he could not commit to an agreement he had just received.

Meanwhile, Ukrainian officials expressed their disappointment, as the U.S. proposal included no security guarantees for Ukraine, while Washington excluded Ukraine from U.S.-Russia talks about the country’s future.