Trump: The mineral rights agreement secured the U.S. access to Ukraine’s rare earth resources
2 August 13:09
U.S. President Donald Trump stated that the agreement reached with Ukraine regarding rare earth resources provides the United States with access to Ukraine’s mineral resources and may prove to be more beneficial than the amount of U.S. aid provided. This was reported by "Komersant Ukrainian", citing Interfax-Ukraine.
“We’ve signed an agreement on rare earths… We have a signed contract. As for rare earths, we can go in there anytime. We want to take practically whatever we want. It was a pretty good deal,” Trump said in an interview.
According to the U.S. president, Ukraine is “very rich” in rare earth resources, and the value of the deal, in his opinion, could significantly exceed the amount of U.S. aid.
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He suggested that the cost of access to the resources could exceed $300 billion, but the contract is still profitable and Washington “will get its money back.”
As a reminder, on May 1 of last year, Ukrainian Economy Minister Yulia Svyrydenko and U.S. Treasury Secretary Scott Bessent signed an agreement on minerals. The agreement calls for the creation of a joint fund designed to attract investment in the energy sector, the mining industry, and related sectors of the Ukrainian economy.
The agreement does not provide for any changes to privatization processes or the management of state-owned companies—they will continue to belong to Ukraine. Companies such as “Ukrnafta” and “Energoatom” remain state-owned.
The fund will be financed exclusively by revenues from new licenses. This refers to 50% of the proceeds from new licenses for projects in the critical materials, oil, and gas sectors, which will be transferred to the budget after the fund is established. Revenues from projects already underway or revenues planned in the budget are not included in the Fund.
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