Ukraine and U.S. clash over natural resources deal in D.C.
The Ukrainian delegation traveled to Washington on Friday for another round of talks regarding an agreement that would give the United States a significant stake in Ukraine's natural resources, reports "The New York Times." The discussions about this highly contentious agreement are expected to last two days.
This visit marks another twist in the months-long saga during which Kyiv and Washington have been negotiating a deal that President Trump sees as a way to "recoup" previous U.S. aid to Ukraine. Meanwhile, President Volodymyr Zelensky hopes it may help secure defence guarantees for his country, as reported by "The New York Times."
The talks will be the first face-to-face meeting of negotiators since the White House presented a revised draft agreement. The new proposal brings back tough demands previously rejected by Kyiv, effectively bringing the negotiations back to square one.
According to NYT journalists, the Ukrainian delegation is led by Taras Kachka, the Deputy Minister of Economy responsible for trade, and includes representatives from the ministries of economy and justice. The White House has not disclosed who will represent the American side.
Will Ukraine accept the U.S. proposition?
The new U.S. proposal, as reported by "NYT," contains even more stringent requirements than previous ones. As in earlier proposals, Ukraine would have to transfer half of its revenue from natural resources—including critical minerals, oil, and gas, as well as related infrastructure such as ports and pipelines—to a U.S.-controlled investment fund. Profits from the fund would be reinvested in Ukrainian natural resource projects, although the exact share of such profits in the investments remains unclear.
Furthermore, Washington would assert, among other things, the right to all profits from the fund until Kyiv repays at least the equivalent of the U.S. aid received during the war, plus 4 percent annual interest.
The new draft also echoes earlier versions by omitting any mention of security guarantees for Ukraine, a provision that Kyiv had long pressed for and managed to include in a draft last month — but one that Washington had long resisted, reports "NYT."
