Ukraine and the US navigate tensions over new minerals deal
Ukraine's Foreign Minister Andrij Sybiha reported on Tuesday that Ukrainian authorities have received a new draft commodity agreement from the US administration and are currently working with American partners to finalize it.
The proposed agreement involves the United States' utilization of Ukrainian mineral resource deposits.
I confirm that on March 28, the Ministry of Foreign Affairs received a new text of the so-called minerals agreement through diplomatic channels from the American side, said Sybiha at a press conference in Kyiv with his Lithuanian counterpart, Kestutis Budrys.
As he mentioned, Ukraine was previously prepared to sign a framework agreement on this matter, but now a "development proposal has come, and consequently, a new text of the agreement."
He also noted that Ukraine intends to sign a document that will benefit both Kyiv and Washington. "The first round of consultations has already taken place," he explained.
The minister highlighted that Ukraine believes the agreement's text, which promotes greater involvement of large American companies in the country, also enhances the security of Ukraine's infrastructure.
"It’s always important to strengthen the presence of US businesses in Ukraine. This process will continue and we will work with our American partners to reach a mutually acceptable text for signing," emphasized Sybiha.
What's next for the agreement?
On Sunday, US President Donald Trump stated that Ukrainian President Volodymyr Zelensky is considering withdrawing from the commodity agreement and warned that he would face "big problems" if this occurs.
Reports from the "Financial Times" and Bloomberg indicate that the United States demands renegotiating the previously agreed but unsigned resource agreement with Ukraine. The new version proposed by the US aims to provide America with extensive control over the exploitation, sale, and profits from Ukraine's natural resource deposits.
According to Bloomberg, Ukraine will insist on significant changes to this document because its current form could jeopardize Kyiv's aspirations for integration with the European Union. Furthermore, the document's content implies that Ukrainians must reimburse the United States for the financial and military assistance Washington has provided to Kyiv since the beginning of the full-scale Russian military invasion.
