Has Donald Trump’s heavy-handed negotiation style scored a win, or have the Ukrainians managed to wrench a victory of sorts from the jaws of defeat?
Although the details are still unclear, Kyiv and Washington are confirming that a deal on mineral rights has been agreed, and that Volodymyr Zelensky will be on his way to the White House on Friday to sign on the dotted line. Trump has abandoned his ludicrously overblown demand for a $500 billion (£400 billion) return on what has actually been no more than $120 billion (£95 billion) given in total aid, through revenue from Ukrainian oil, gas and rare earth metals. Zelensky had understandably rejected this, saying ‘I am not signing something that ten generations of Ukrainians will have to repay.’
Instead, it seems that a fund for the reconstruction of the country will be established, with a substantial US stake, which will draw on a share of those revenues.
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