The US and Ukraine held overnight negotiations on a minerals deal - Axios.

Negotiations on the minerals agreement between the US and Ukraine continue

Negotiations between the US and Ukraine regarding the minerals agreement lasted the entire night until Friday morning, Axios reports, citing an American official and a source directly familiar with the situation.

According to sources, the decision now rests with President Volodymyr Zelensky, and if he rejects the proposal, the crisis in US-Ukrainian relations could deepen. An American official described the situation as 'a decision-making moment for the Ukrainians.'

Rare earth minerals are worth trillions of dollars

The rare earth minerals in question could be worth a total of trillions of dollars. Earlier, Zelensky rejected the initial US proposal presented by Treasury Secretary Scott Bessent, which suggested that the United States receive 50% of all revenues from the mining project. This decision caused dissatisfaction for President Donald Trump.

Concerns about the agreement and Ukraine's security

Zelensky has concerns about certain provisions of the agreement and the lack of security guarantees for Ukraine. The American side presented an 'improved' proposal earlier this week and has now made additional changes; however, the exact terms of the current US proposal are unknown.

Keith Kellogg meeting with Zelensky's aides

US Special Envoy Keith Kellogg is still in Kyiv and is meeting with Zelensky's aides. The Trump administration sent the latest version of the minerals agreement to Ukraine on Thursday evening. An American official noted that the modified version of the agreement is aimed at 'correcting the situation' between the US and Ukraine.

Zelensky's characterization

Kellogg posted on social media X on Friday morning that he had a 'long and intense day with Ukraine's senior leadership,' including 'extensive and positive discussions' with Zelensky. The American envoy characterized Zelensky as a 'decisive and brave leader of a war-torn country,' sharply contrasting with Trump's characterization of Zelensky as an unpopular 'dictator.'