U.S. President Donald Trump said on Saturday that the United States is “pretty close” to an agreement with Ukraine on sharing revenue from Ukrainian rare earth minerals and other natural resources as part of efforts to end the conflict. However, sources indicated that the draft deal might “not be the one President Volodymyr Zelensky would accept.”

“It is a strange offer to try and take from a country that is a victim of war, more than it costs to pay for its defense,” a source familiar with the negotiations told CNN. Ukrainian state broadcaster Suspilne also reported that work had continued on the document “all night,” but progress was held up by the issue of “security guarantees.”

Zelenskyy has rejected demands from President Trump’s administration for $500 billion in mineral wealth from Ukraine to repay Washington for three years of aid, stating that the U.S. has offered no specific security guarantees. However, the Ukrainian president did confirm on Friday that teams from both Ukraine and the U.S. were still working on an agreement.

The proposal would have seen Washington receiving 50 percent of Ukraine’s critical minerals, including graphite, uranium, titanium and lithium, the latter being a key component in electric car batteries.

Ukrainians are still trying to negotiate amendments because the current draft “does not foresee any American obligations, while Ukraine........

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