Ukraine faces pressure over the US mineral resource deal renegotiation
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 already collaborating with American partners to finalise it.
The proposed agreement concerns the use of Ukrainian mineral resource deposits by the United States.
I confirm that on 28th March, the Ministry of Foreign Affairs received, through diplomatic channels, a new text of the so-called minerals agreement provided by the American side, said Sybiha at a press conference in Kyiv with his Lithuanian counterpart, Kestutis Budrys.
As he emphasised, 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 would sign a document that served the interests of both Kyiv and Washington. He explained that the first round of consultations has already taken place.
The minister emphasised that Ukraine believes the agreement's text, which foresees the strengthening of the presence of large American companies in his country, also contributes to 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," Sybiha emphasised.
What's next for the agreement?
On Sunday, US President Donald Trump declared that Ukrainian President Volodymyr Zelensky is seeking to withdraw from the commodity agreement. He warned that he would face "big problems" if this happened.
According to reports from the Financial Times and Bloomberg, the United States demanded renegotiation of the previously agreed but unsigned resource agreement with Ukraine. The new version proposed by the US aims to give America extensive control over the exploitation, sale, and profit-making from Ukraine's natural resource deposits.
According to Bloomberg, Ukraine will demand significant changes to this document because its current form may threaten Kyiv's aspirations for integration with the European Union. Moreover, the document's content suggests that Ukrainians must reimburse the United States for the financial and military aid that Washington has provided to the authorities in Kyiv since the beginning of the full-scale Russian military invasion.
