Ukraine’s President Volodymyr Zelenskyy says a contentious U.S. proposal that would have seen $500 billion worth of profits from Ukrainian rare minerals given to the United States as compensation for its wartime assistance to Kyiv has been taken

U.S. Treasury Secretary Scott Bessent said postwar Ukraine would benefit greatly from a rear earths minerals deal while better ensuring lasting peace with Russia.

Beneath the battle-scarred fields of Ukraine lies a hidden treasure -- rare earth minerals used to power the world's most advanced technologies. White House National Security Adviser Mike Waltz said Ukraine is close to signing a deal giving the United States access to these scarce resources.

President Donald Trump reversed course on Friday and said Russia did in fact invade Ukraine, and that Kyiv would soon sign a minerals agreement with the United States as part of efforts to end the Ukraine war.