U.S. and Ukraine forge mineral pact without security pledge
The United States and Ukraine have reached an agreement on a joint investment fund related to Ukrainian mineral resources. "The New York Times" reports that the final version of the agreement does not include explicit security guarantees from the United States.
What you need to know
- Minerals agreement: The United States and Ukraine have signed a deal to establish the American-Ukrainian Investment Fund for reconstruction.
- Purpose of the agreement: The agreement aims to strengthen ties between the two countries and demonstrate the US's commitment to Ukraine's long-term peace and prosperity.
- Lack of guarantees: The agreement does not include explicit security guarantees from the United States.
Key elements of the agreement
The United States and Ukraine have announced the signing of an agreement that establishes a joint investment fund. The goal is to share future revenues from Ukrainian mineral resources. The conclusion of the agreement was announced by the Trump administration and results from months of tough negotiations.
The US Treasury Secretary, Scott Bessent, emphasised that the agreement serves as a signal to Russia that the Trump administration is committed to a peace process aimed at ensuring Ukraine's freedom, sovereignty, and prosperity. "President Trump envisioned this partnership between the American people and the Ukrainian people to show both sides’ commitment to lasting peace and prosperity in Ukraine," Bessent noted.
Lack of key guarantees
As "The New York Times" reports, the agreement does not include guarantees regarding security from the US.
Nonetheless, supporters of the agreement hope it may change President Trump's view of Ukraine. Previously, Ukraine has often seemed an obstacle to improving US-Russia relations.
Individuals familiar with the negotiations, who wished to remain anonymous, indicated to "The New York Times" that the lack of guarantees was a deliberate US decision. Nonetheless, the agreement may have limited significance if the conflict with Russia continues.
Ukrainian media on the agreement
The bilateral agreement outlines the political parameters of cooperation between the two governments in the exploitation of natural resources, the sale of minerals, and US assistance that Ukraine will receive in future. However, many details, including politically significant ones, will be determined in a "technical agreement" which is not yet completed - reports the European Truth portal.
The agreement signed on Wednesday is only 12 pages long. In comparison, the draft document provided by the US to Ukraine in March, written in the same font, was over 90 pages long.
Importantly, the document does not subordinate Ukraine to the American legal system, and disputes will be resolved on a parity basis through consultations - claims European Truth.
The US contribution will include new arms supplies for the Ukrainian military. "If [the US government] provides the Ukrainian government with new military assistance in any form—including the transfer of weapons systems, ammunition, technology, or training—the capital contribution of the United States shall be deemed increased by the estimated value of such military assistance," the agreement states.
