The United States sent Ukraine a proposal for a minerals agreement. What is known?
27 March 2025 17:46
The United States has sent Ukraine its proposal for a detailed minerals agreement. Currently, the government team is analyzing it, and later the parties will have a discussion.
This was reported to Suspilne by sources familiar with the course of negotiations on the agreement, "Komersant Ukrainian" reports.
According to our interlocutors, Ukrainian lawyers and government officials are currently working on a new draft of the subsoil agreement proposed by the US. The current version will still be discussed with the US side, but it is a “step backwards.”
“In this draft, the American side has taken several steps backward compared to the framework agreement that was agreed by both sides earlier,” the source told Suspilne.
Yaroslav Zheleznyak , an MP and deputy chairman of the Verkhovna Rada’s tax committee, received the text of the agreement from his sources and said that, in his opinion, this option is unfavorable for Ukraine.
According to him, the agreement provides for the creation of a five-person governing body of the fund, where three US representatives will have a veto. The proposal also applies to Ukrainian oil and gas. Washington’s contribution to the implementation of the agreement is considered to be the assistance provided to Kyiv since 2022. At the same time, the agreement does not mention security guarantees. Suspilne asked the Ministry of Economy for comment.
President of Ukraine Volodymyr Zelenskyy saidthatthere is no final version of the updated agreement with the United States on minerals yet.
“Conditions are constantly changing. And it seems that we have already agreed that there will be a framework agreement, and then a full agreement. Now the US is offering to sign a full agreement at once. This requires a detailed study,” the head of state said.
Zelenskyy noted that at first, lawyers worked “on one agreement, then on another, and finally agreed on a framework agreement.”
“We must act with restraint, calmly, not be nervous. Look at the agreement. Lawyers will study it. We will support adequate proposals. If there are questions, there are always answers,” the president added.
At the same time, Zelenskyy emphasized that Ukraine is not against the agreement and cooperates “constructively” with Washington every day.
Earlier, Volodymyr Zelenskyy said that the United States had proposed signing a new major agreement on rare earth metals. According to the president, he is not yet aware of the details of this new agreement, but he noted that there is no mention of the transfer of control over nuclear power plants to the Americans.
Read more about the agreement
Ukraine and the United States have agreed to sign an agreement on joint mining of Ukrainian minerals. Kyiv did not accept the first version of the agreement, which provided for US ownership of 50% of Ukraine’s mineral reserves.
Ukrainian President Volodymyr Zelenskyy explained that the document did not meet Ukrainian interests. This sparked criticism in Washington, leading to direct accusations from US President Donald Trump against Zelenskyy.
Subsequently, the Ukrainian and American sides finalized the document, and the Yevropeiska Pravda publication published its text.
According to the document, Ukraine and the United States should create a joint Reconstruction Investment Fund. It will be managed by both parties.
Ukraine is expected to contribute 50% of all revenues received from the future monetization of its natural assets owned by Kyiv.
At the same time, the U.S. government supports Ukraine’s efforts to obtain the security guarantees necessary to create a lasting peace. As stated in the agreement, the participants will seek to identify any necessary steps to protect mutual investments as defined in the fund agreement.
However, the signing of this agreement failed due to a dispute between the Ukrainian and American presidents at the White House on February 28. Donald Trump then said that Zelenskyy was “not ready for peace.” At the same time, Volodymyr Zelenskyy emphasized that Ukraine was still ready to sign the agreement.
