Ukraine weighs U.S. minerals deal amid sovereignty concerns
Ukrainian Foreign Minister Andriy Sybiha announced on Tuesday that the Ukrainian authorities have received a new draft of a resource agreement from the U.S. administration and are actively working with their American partners to finalize it.
The proposed agreement involves the United States' use of Ukraine's mineral resource deposits.
Sybiha confirmed at a press conference in Kyiv, held with Lithuanian counterpart Kestutis Budrys, that on March 28 the Ministry of Foreign Affairs received a revised version of the so-called mineral agreement from the United States via diplomatic channels.
He emphasized that Ukraine was previously prepared to sign a framework agreement on this matter but has received a "development proposal," along with the updated agreement text.
Sybiha also noted that Ukraine aims to sign a document that aligns with the interests of both Kyiv and Washington. "The first round of consultations has already taken place," he explained.
The minister highlighted that Ukraine believes the agreement, which envisions increased involvement of large American enterprises in Ukraine, will contribute to the security of the country'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 stressed.
What’s next for the agreement?
President Donald Trump stated on Sunday that Ukrainian President Volodymyr Zelensky is considering withdrawing from the resource agreement and warned that he would face "big problems" if that happens.
According to sources like the Financial Times and Bloomberg, the United States requested that Ukraine renegotiate the previously agreed-upon but unsigned resource agreement. The new version proposed by the U.S. aims to grant America extensive control over the exploitation, sale, and profit-sharing of Ukrainian natural resource deposits.
Bloomberg reports that Ukraine will seek significant changes to this document, as its current form may threaten Kyiv's aspirations for integration with the European Union. Additionally, the document implies that Ukraine must repay the value of financial and military aid that Washington has provided since the onset of the full-scale Russian military invasion.
