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Trump Ties Himself to Future of Ukraine With Minerals Deal

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Trump Ties Himself to Future of Ukraine With Minerals Deal

The minerals deal signed by the United States and Ukraine on Wednesday could bring untold money into a joint investment fund between the two countries that would help rebuild Ukraine whenever the war with Russia ends.

But Ukraine’s untapped resources that are the subject of the deal will take years to extract and yield profits. And those could fail to deliver the kind of wealth that President Trump has long said they would.

It is not yet clear how the nine-page deal, the text of which Ukraine’s government made public on Thursday, will work in practice. Many specifics need to be worked out, but the deal will set up an investment fund, jointly managed by Kyiv and Washington.

Although the Trump administration had wanted Kyiv to use its mineral wealth to repay past U.S. military assistance, the final text removes the idea of treating that aid as debt. ​The deal also seemed to specifically keep the door open for Ukraine to eventually join the European Union, a move that neither the United States nor Russia has opposed.

There was no mention of a security guarantee — which Ukraine had long sought to prevent Russia from regrouping after any cease-fir​e. But the deal does mean that the United States could send more military aid to Ukraine if a peace deal is not reached.

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The much-anticipated signing of the agreement has almost certainly accomplished one thing that seemed almost impossible two months ago: It has tied Mr. Trump to Ukraine’s future.

“This agreement signals clearly to Russia that the Trump administration is committed to a peace process centered on a free, sovereign and prosperous Ukraine over the long term,” Treasury Secretary Scott Bessent said in announcing the agreement on Wednesday.

Analysts agreed on Thursday that the deal could guarantee Mr. Trump’s interest in Ukraine now that he is publicly invested.

“He’s a businessman — he always does the math,” said Volodymyr Fesenko, a leading political analyst in Kyiv. “His business mind-set shapes his approach to politics. So his motivation in the agreement could help maintain U.S. interest in Ukraine. How this will work out in practice, only time will tell.”

Ukraine’s Parliament still has to ratify the agreement, which will probably happen in the next 10 days, officials said on Thursday.

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In the end, it appears that Ukraine managed to get some of what it wanted, but not everything. The notable omission was the absence of a security guarantee.

“The agreement has changed significantly,” President Volodymyr Zelensky of Ukraine said in a social-media post on Thursday evening. He added, “Now it is a truly equal agreement that creates an opportunity for investments in Ukraine.”

The investment fund will be financed with revenues from new projects in critical minerals, oil and gas — and not from projects that are already operating. In theory, it would be a 50-50 partnership in which Ukraine and the United States each would put the same amount into the fund and run it equally.

Anna Skorokhod, a Ukrainian Parliament member from an opposition political party, said she was briefed about the deal at a government meeting on Thursday. Ms. Skorokhod said she was told the Americans would put money into the fund — and the equivalent dollar amount of what any future military aid to Ukraine would cost.

The Ukrainians will put money into the fund from mining licenses issued for investors and royalties from the mineral resources developed under the deal. Half of that money will go into the Ukrainian budget; half will go into the joint investment fund. Senior Ukrainian officials confirmed that understanding.

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Ms. Skorokhod said she was hesitant to support the deal because it lacked specifics. “It looks good, but we don’t know if it’s true or it’s a fairy tale for us to vote,” she said.

The fund would be established by both governments and managed by a limited-liability company formed in Delaware and run by three Ukrainians and three Americans, Ms. Skorokhod said. Profits would go to rebuild Ukraine after the war for the first 10 years; after that, it’s not clear what would happen with the profits.

The final terms will be detailed in future agreements.

The signing of the deal on Mr. Trump’s 100th day in office was the latest twist in his ever-shifting approach to the war, which Russia started with its full-scale invasion of Ukraine in February 2022.

Mr. Trump has falsely blamed Kyiv for instigating the war and seemed to find more of a kinship with President Vladimir V. Putin of Russia than with anyone in Ukraine. He has repeatedly questioned why the United States became Kyiv’s biggest ally under President Joseph R. Biden Jr. And he has made no secret of his irritation with Mr. Zelensky and Kyiv’s requests for more military assistance.

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The nadir of the relationship between Ukraine and the United States came on Feb. 28, when Mr. Zelensky and Mr. Trump were initially expected to sign a profit-sharing minerals deal in the Oval Office. The meeting was a disaster. Mr. Trump and Vice President JD Vance publicly castigated Mr. Zelensky, who was abruptly asked to leave the White House. In the fallout, the Trump administration temporarily suspended military aid and intelligence sharing with Ukraine.

But Mr. Trump has also repeatedly said he wants to end the war, even campaigning on the promise he would do so in 24 hours. He has since said he was not being literal.

As the Trump administration has pressured both Russia and Ukraine to agree to a peace deal — or at the least, a 30-day cease-fire — Ukraine has tried to look like the reasonable party. Mr. Zelensky, who has worked to smooth relations with the Trump administration after the Oval Office debacle, immediately agreed to the idea of an unconditional 30-day truce; Mr. Putin did not.

Still, for Ukraine, the minerals deal offered an opportunity for some leverage, even as critics described it as extortion.

The Ukrainian government initially highlighted the country’s mineral holdings to the Trump administration, hoping to draw some investment and to help solidify the relationship between the two countries.

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Ukrainian officials say the country holds deposits of more than 20 critical minerals; one consulting firm valued them at several trillion dollars. But the minerals may not be easy to extract, and the Soviet-era maps identifying the locations of the critical deposits have never been modernized nor necessarily thoroughly vetted.

Kyiv had desperately wanted the deal to include some kind of security guarantee from the United States. Without one, officials feared, Russia could violate any cease-fire — which Moscow has done before.

Mr. Trump, though, has said that having a joint investment fund with the United States would be a security guarantee in its own right — that if U.S. companies and the U.S. government were invested in Ukraine’s future, that alone will deter Russia.

In many ways, despite all the back-and-forth, the deal signed on Wednesday with little fanfare resembled the one that fell apart in February.

Reaction to the deal was mixed in Ukraine on Thursday.

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Vira Zhdan, 36, who lives in the southern Ukrainian city of Zaporizhzhia, which frequently comes under Russian attack, said the deal could unfairly siphon off money from Ukrainian resources to U.S. investors.

“These are snares that tighten around us and drag our country into a deeper and deeper pit,” she said. “We live here and now, but it will be our descendants who have to deal with the consequences. This will, undoubtedly, leave a significant mark on them.”

But Svitlana Mahmudova-Bardadyn, 46, who lives in the Sumy region near the border with Russia, said she hoped the deal meant Ukraine would receive more U.S. support — like weapons. She also said she hoped “that this full-scale war will finally end, that things will get better for us.”

That all remained to be seen on Thursday, with the text of the agreement vague and Ukrainian officials staying mum on any promises that might have been made.

Instead, the deal’s language referred to “an expression of a broader, long-term strategic alignment” between the two countries, “a tangible demonstration of the United States of America’s support” for Ukraine’s security and reconstruction. And it made it clear who would not stand to gain.

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The agreement says the United States and Ukraine want to ensure that countries “that have acted adversely to Ukraine in the conflict do not benefit from the reconstruction of Ukraine” once peace is reached — in other words, Russia.

Oleksandra Mykolyshyn contributed reporting.

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Iran Live Updates: Global Markets Tumble After U.S. Warns War Could Last Weeks

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President Trump is meeting Germany’s leader at the White House after sidelining his European allies in the decision to attack Iran. Oil and gas prices surged and stock markets fell, after U.S. and Israeli officials signaled that strikes on Iran would intensify.

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Ambassador Huckabee describes ‘best option’ for Americans looking to flee Israel

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Ambassador Huckabee describes ‘best option’ for Americans looking to flee Israel

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U.S. Ambassador to Israel Mike Huckabee described what he believes is the “best option” for Americans looking to flee Israel amid the ongoing unrest across the Middle East. 

Huckabee said overnight, “We are getting a lot of requests regarding evacuating from Israel from American citizens who are currently in Israel or who have family here,” and that there are “very limited” options available. 

“As of now, the best is utilizing Israel’s Ministry of Tourism shuttle bus to Taba, Egypt and getting flights from there or going on to Cairo for flights back to the U.S.,” Huckabee said on X. “Not sure when Ben Gurion Airport in Tel Aviv will reopen.  Hopefully soon, but even when it does, there will be VERY limited flights with priorities to those who already were ticketed by El Al. Doubtful that other airlines will fly in/out for a while.” 

“The Ministry of Tourism is operating buses to Taba. That crossing is further away, but it’s open 24/7. There are some flights from Taba, but there are also options to get to Cairo, and it’s operating normally except to Middle Eastern countries. To get out, it’s the best option for now,” Huckabee added. 

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U.S. Ambassador to Israel Mike Huckabee, left, and emergency personnel at the site of an Iranian missile strike on a residential building in Tel Aviv, Israel, on March 1, 2026. (Alex Brandon/Pool/AFP via Getty Images; Ronen Zvulun/TPX Images of the Day/Reuters)

Huckabee also said he does not recommend Americans exit via Jordan at this time, as “Flights are not consistent and access across the Allenby crossing has limited hours.” 

“All of our personnel from [the] embassy are sheltering in place, but I realize you may need to get people out and back home and not continue to incur hotel costs,” the ambassador wrote. 

NETANYAHU INSISTS US AND ISRAEL’S STRIKES ON IRAN WON’T LEAD TO ‘ENDLESS WAR’

People take shelter in Tel Aviv on Sunday, March 1, 2026, after Iran launched missile barrages following attacks by the U.S. and Israel on Saturday. (Ronen Zvulun/Reuters)

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U.S. Embassy Jerusalem said in a statement early Tuesday morning that it is “not in a position at this time to evacuate or directly assist Americans in departing Israel.” It also mentioned the Israeli Ministry of Tourism’s buses to Taba.

“To be added to the passenger list for a shuttle, you must register via the Ministry’s evacuation form,” it said.  

A firefighter works to put out a fire in Tel Aviv after Iran launched missiles into Israel on Saturday, Feb. 28, 2026. (Tomer Appelbaum/Reuters)

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“The U.S. Embassy cannot make any recommendation (for or against) the Ministry of Tourism’s shuttle. If you choose to avail yourself of this option to depart, the U.S. government cannot guarantee your safety,” it added. 

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Is Iran expanding attacks to target energy and civilian sites in the Gulf?

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Is Iran expanding attacks to target energy and civilian sites in the Gulf?

Hours after Israel and the United States launched attacks on Iran on Saturday, Tehran launched retaliatory strikes on Israel and US military assets located in several Gulf countries.

Iran has since struck targets in Israel as well as US military assets in Bahrain, Saudi Arabia, Qatar, Iraq, and the United Arab Emirates (UAE).

While the Iranian attacks initially focused on US military assets, Gulf states said Tehran has expanded attacks targeting civilian infrastructure including hotels, airports and energy facilities.

What sites has Iran hit in Gulf countries?

US military assets

On Saturday, Bahrain said that a missile attack targeted the headquarters of the US Navy’s 5th Fleet, located in the capital, Manama.

Kuwait’s Defence Ministry said that Ali al-Salem airbase came under attack by a number of ballistic missiles, all of which were intercepted by Kuwaiti air defence systems.

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In Qatar, the Defence Ministry says it “thwarted” attacks on the country in accordance with a “pre-approved security plan”, intercepting “all missiles” before they reached the country’s territory. On Saturday, Iran had targeted the Al Udeid airbase, which hosts the US forces, the government said.

Over the past four days of the conflict, attacks on Gulf countries have intensified, and governments in the region say they have intercepted large numbers of Iranian missiles and drones.

Bahrain said its air defence systems have destroyed 73 missiles and 91 drones launched by Iran since the start of the latest conflict.

The UAE Defence Ministry spokesperson said that 186 missiles were launched and 172 of them were destroyed. One missile landed on UAE territory. Additionally, 812 Iranian drones were monitored, and 755 of them were intercepted.

Qatar’s Ministry of Defence said that three cruise missiles were detected and intercepted since Saturday. Additionally, 101 ballistic missiles were detected, and 98 were intercepted. Thirty-nine drones were detected, and 24 were intercepted. On Monday, the Qatari Defence Ministry said in a statement that the air force downed two Iranian SU-24 fighter jets.

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US embassies

Early on Tuesday, a “limited fire” broke out at the US embassy in the Saudi capital of Riyadh after it was hit by two drones. The attack caused “minor material damage” to the compound, the Saudi Ministry of Defence said in a statement.

Black smoke was ⁠seen rising over Riyadh’s Diplomatic Quarter, which houses foreign missions, after the attack, the Reuters news agency reported.

The Ministry of Foreign Affairs in Kuwait released a statement on Tuesday saying that a “treacherous Iranian attack” targeted the US embassy building in Kuwait. This came a day after videos emerged that showed smoke emerging from near the embassy in Kuwait City.

The statement called the attack a “flagrant violation of all international norms and laws, including the Geneva Conventions of 1949 and the Vienna Convention of 1961 on Diplomatic Relations, which grant immunity to diplomatic buildings and their staff even in cases of armed conflict.”

On Monday, three US jets crashed in Kuwait. The US military blamed the crash on “friendly fire”, but a Kuwaiti statement did not give a reason for the incident.

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The US embassy in Kuwait on Tuesday suspended operations until further notice, citing the “ongoing regional tensions”.⁠

Energy infrastructure

Qatar’s state-run energy firm and the world’s largest producer of liquefied natural gas (LNG), QatarEnergy, announced on Monday that it had halted LNG production following Iranian attacks on its operational facilities in Ras Laffan and Mesaieed in Qatar.

Iranian officials have publicly denied targeting QatarEnergy.

Saudi Arabia shut down operations at the Ras Tanura plant, its biggest domestic oil refinery operated by Saudi Aramco, after a fire broke out at the facility that officials said was caused by debris from the interception of two Iranian drones.

Iran’s Tasnim News Agency quoted an unnamed Iranian military source as saying: “The attack on Aramco was an Israeli false flag operation,” adding that Israel’s goal was “to distract the minds of regional countries from its crimes in attacking civilian sites in Iran.”

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“Iran has announced frankly that it will target all American and Israeli interests, installations and facilities in the region, and has attacked many of them so far, but Aramco facilities have not been among the targets of Iranian attacks so far,” the source told the agency.

Tasnim quoted the source as saying: “According to data provided to us by intelligence sources, the port of Fujairah in the UAE is also one of the next targets of the Israelis in the false flag operation, and this regime intends to attack it.”

Airports

Airports have been targeted in Abu Dhabi and Dubai in the UAE, and also in Erbil, the capital of the autonomous Kurdish region in Iraq. Officials have blamed Iran for the strikes, though Tehran has not publicly claimed responsibility for the attacks on those facilities.

An Al Jazeera correspondent reported that Erbil International Airport was targeted twice on Saturday, with a drone attempting to target the airport and air defences intercepting and shooting it down.

Qatar’s Foreign Ministry spokesperson Majed al-Ansari told a news conference on Tuesday that there were attempts to attack Hamad International Airport, but they all failed.

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At Abu Dhabi’s Zayed International Airport, at least one person was killed and seven wounded during what the facility’s authority called an “incident.”

The Dubai media office wrote in an X post that part of Dubai International Airport “sustained minor damage in an incident”, without specifying what the incident was or who was behind it.

The region’s airspace, one of the busiest in the world, has been closed in the wake of the conflict, stranding tens of thousands of travellers. About 20,000 passengers have been stranded in the UAE, while almost 8,000 people are also stuck in transit in Qatar as the airspace remains closed.

Qatar Airways, Emirates and Etihad, which together operate more than 1,000 flights daily, have suspended operations. Emirates on Monday announced limited flight resumption, but normal operations have not started.

Hotels and residencies

The Interior Ministry of Bahrain said on Saturday that several residential buildings in Manama had been hit, reporting on X that the civil defence was engaged in firefighting and rescue operations at the affected sites.

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On Saturday, Iran fired 137 missiles and 209 drones across the UAE, its Ministry of Defence said, with fires and smoke reaching the Dubai landmarks of Palm Jumeirah and Burj Al Arab.

Videos circulating on social media showed smoke emerging from the entrance of a five-star luxury hotel, Fairmont The Palm, in the Palm Jumeirah area.

Qatar’s Foreign Ministry spokesperson al-Ansari said on Tuesday that Iranian targets are not just military, but all of the country’s territory. He did not go into detail about which parts of Qatar are specifically being targeted.

Al-Ansari said that all red lines have been crossed; from the north to the south of Qatar, Al Jazeera’s Laura Khan reported from Doha, Qatar.

Iranian Foreign Minister Abbas Araghchi said Tehran had targeted a hotel complex in Bahrain because it was hosting US soldiers.

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“We are not targeting our brothers or neighbours in the Persian Gulf. But we are targeting US targets, and this is clear,” Araghchi said on Tuesday.

“We started by attacking their military bases, and they evacuated their military bases and moved them to hotels and created human shields for themselves. We try to target military personnel, infrastructure and facilities helping the US and its army in launching operations against Iran.”

Why is Iran targeting civilian infrastructure in the Gulf?

One of the reasons why the Iranians are resorting to hitting civilian infrastructure in neighbouring countries is to “demonstrate their military capabilities,” Luciano Zaccara, Iran and Gulf analyst at Qatar University, told Al Jazeera.

“Iran is retaliating against all the attacks, not in one place, but in almost 10 simultaneously,” he said.

“The other thing is the political message they want to give that if Iran is attacked, the impact will be global,” Zaccara said, noting that the main message is that not only Iran, but the economy of the whole region, will be affected.

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“And neither the US, the region, nor the consumers of energy are able to continue this way,” he said.

Zaccara added: “But at this point, they [Iran] don’t care that much, considering that they have been under sanctions for a long time. So it’s not affecting the Iranian economy that much. And the fact that the oil price is going up – even though they export very little – means they are still surviving.”

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