A US-supplied High Mobility Artillery Rocket System (HIMARS) seen in Ukraine’s Kherson region, 29 October 2022. Photo: EPA-EFE/HANNIBAL HANSCHKE
As talks over a minerals deal continue between the United States and Ukraine, President Donald Trump’s administration has eased its demands for the payback of aid by Kyiv, Bloomberg reported on Wednesday, citing people familiar with the negotiations.
Whereas the Trump administration previously estimated the value of its support to Ukraine at $300 billion (€282 billion) since the start of the full-scale war, now, according to Bloomberg’s sources, the amount had dropped to $100 billion (€94 billion). That is closer to Kyiv’s own estimate of $90 billion (€84.6 billion).
The White House and the Ukrainian government declined to comment on the story, but responding to a question from Bloomberg about the status of the talks, US Treasury Secretary Scott Bessent said that the sides were “very close” to an agreement.
According to Bloomberg, the Trump administration revised its estimate after the latest round of talks between Washington and Kyiv late last week. While the talks were productive, the US still insists in the latest draft of the agreement that Kyiv recognise past aid as debt to be paid back, Bloomberg’s sources said. Kyiv had refused to do so in previous negotiations, seeking a lower valuation of Washington’s support.
For months, the Trump administration has been negotiating with Ukraine for an agreement to give the US a share of profits from future Ukrainian investment projects, particularly relating to raw materials and minerals. The two sides were believed to be on the cusp of signing a deal in February, but the agreement was cancelled following Ukrainian President Volodomyr Zelensky’s ill-fated Oval Office meeting.
