Ukrainian President Volodymyr Zelensky has declined a U.S. proposal that sought a 50% stake in Ukraine's mineral resources, including critical materials like graphite, lithium, and uranium. The offer was presented by U.S. Treasury Secretary Scott Bessent during a meeting in Kyiv and was intended as compensation for past and future U.S. aid to Ukraine. However, Zelensky criticized the proposal for lacking essential security guarantees for Ukraine, stating, "I did not allow ministers to sign the agreement because it is not ready. In my opinion, it does not protect us."

The discussions continued at the Munich Security Conference, where Zelensky emphasized the importance of linking any economic agreements to security assurances to deter future aggression from Russia. He expressed concerns that the U.S. proposal did not address the protection of mineral sites from potential Russian attacks, rendering the deal incomplete from Ukraine's perspective.

The White House viewed Zelensky's refusal as short-sighted, arguing that economic ties with the U.S. would help ensure long-term peace and security. Despite this, Ukraine is preparing a counterproposal and has stressed the need for European participation in any negotiations with Russia.

This development highlights the complex interplay between economic interests and security concerns in international agreements, especially in regions experiencing ongoing conflict.