Moody’s strips US of last top credit rating over debt concerns
The US has lost its final AAA credit rating after Moody’s downgraded the country to Aa1, citing growing deficits and mounting debt as risks to long-term fiscal health.
Washington, D.C., February 21, 2025 – U.S. negotiators have reportedly raised the possibility of cutting Ukraine’s access to SpaceX’s Starlink satellite internet service unless Kyiv reaches an agreement to grant the United States greater access to its critical minerals.
Three sources familiar with the matter told Reuters that the issue emerged during recent discussions between U.S. and Ukrainian officials.
According to the sources, the matter was first raised after Ukrainian President Volodymyr Zelenskiyy turned down an initial proposal from U.S. Treasury Secretary Scott Bessent. The discussions continued during a meeting on Thursday between Ukraine’s leadership and U.S. special envoy Keith Kellogg. During these talks, Ukrainian officials were reportedly warned that failing to secure a deal on access to minerals could result in an imminent shutdown of Starlink services—a system that has become essential for both civilian and military communications in the war-torn country.
“Ukraine runs on Starlink. They consider it their North Star,” one source said, adding that losing the service would be a “massive blow.” Starlink has been credited with providing critical connectivity since Elon Musk’s company began deploying terminals in Ukraine after Russia’s invasion in February 2022.
The proposal comes as part of broader U.S. efforts to secure access to Ukraine’s critical minerals—including graphite, uranium, titanium, and lithium—viewed as vital for the nation’s economic recovery and for various industrial applications in the West. The Trump administration has previously pushed for Ukraine to supply significant quantities of these minerals in exchange for continued support for its war effort. However, President Zelenskiyy has rejected U.S. demands for $500 billion in mineral wealth, arguing that Washington has not provided specific security guarantees in return.
On Friday, Zelenskiyy stated that Ukrainian and U.S. teams were actively working toward an agreement, while President Donald Trump expressed optimism that a deal would be signed soon. SpaceX, which operates Starlink, did not immediately comment on the reports, nor did the Ukrainian government or U.S. officials.
Analysts say that Starlink’s role is crucial for Ukraine’s military operations, particularly in maintaining drone connectivity and other critical communication channels. Melinda Haring, a senior fellow at the Atlantic Council, noted, “Losing Starlink would be a game changer,” highlighting the service’s importance in ensuring operational parity in drone and artillery deployments against Russian forces.
The potential move to link Starlink access with a broader mineral agreement underscores the complex negotiations between the United States and Ukraine, as both sides seek to balance military, economic, and strategic interests amid an ongoing conflict. The situation remains fluid, and further developments are expected as negotiations continue.
Ukrainian President Volodymyr Zelenskyy met Turkish President Recep Tayyip Erdogan in Ankara on May 15, with discussions reportedly focusing on upcoming peace talks between Ukrainian and Russian delegates in Istanbul.
Israeli Prime Minister Benjamin Netanyahu said the war in Gaza will not stop until Hamas is destroyed, following the release of US-Israeli soldier Edan Alexander.
Qatar signed a landmark agreement with U.S. aerospace giant Boeing on Wednesday to acquire 160 aircraft for Qatar Airways, a deal valued at $200 billion. The signing took place in Doha during the visit of U.S. President Donald Trump.
Ukrainian and Russian delegations meet behind closed doors at Istanbul’s Dolmabahçe Palace at 10:00 local time today to explore security guarantees, territorial integrity and a possible ceasefire.
EU approves 17th Russia sanctions, blacklisting almost 200 shadow‑fleet ships, 30 evasion firms and 75 defence figures, banning missile chemicals and arming Brussels to strike Kremlin hybrid and operations.
Ukrainian President Volodymyr Zelenskyy will attend Pope Leo’s inaugural Mass on Sunday in St. Peter’s Square, joined by U.S. Vice President J.D. Vance and Secretary of State Marco Rubio.
The Israeli Defense Forces launched Operation Gideon’s Chariots on Saturday, intensifying airstrikes and deploying troops in Gaza to defeat Hamas and free hostages amid mounting civilian casualty concerns.
Britain is working with the U.S. to ensure a ceasefire between India and Pakistan endures and that "confidence-building measures" and dialogue take place, foreign minister David Lammy said on Saturday.
Poland will restart negotiations with the Czech Republic over a decades-old 400-hectare border dispute, raising questions about the EU’s sovereignty-focused, bilateral approach and its relevance for talks like those between Azerbaijan and Armenia.
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