Three Americans with a veto: who leaked the minerals deal and what angered the MPs?
28 March 2025 17:36
Ukraine is facing a choice that could dramatically change its economic future. A new agreement with the United States on minerals has become the subject of heated debate in parliament and society. The document, according to MP Yaroslav Zheleznyak, contains 58 pages and provides for significant concessions to the American side. But how did the draft agreement end up in the public space, is there really a threat to Ukrainian sovereignty, and what does the President of Ukraine say?
Read the main details and political implications of the scandalous agreement in the article
Economy Minister Yulia Svyrydenko has confirmed that Ukraine has received an updated version of the minerals agreement from the United States. She said this during an hour of questions to the government in the Verkhovna Rada.
“We are working on it. This is a working version, which essentially reflects the position of American legal advisors. We are forming our position,” Svyrydenko said.
Earlier, MP Yaroslav Zheleznyak announced the new version of the document. At the same time, the minister emphasized that public discussions of the draft agreement could harm the negotiations and complicate the dialogue with American partners.
Svyrydenko also assured that once a consensus is reached, the government will present an official position to the parliament. According to her, if necessary, additional consultations will be held with MPs on the content of the agreement.
MPs on the deal with the US
Ukrainian MPs are expressing concern about the proposed US minerals agreement, pointing to possible threats to sovereignty and economic risks. MP Yaroslav Zheleznyak said that he had received the text of the draft agreement between Ukraine and the United States on mineral resources. According to him, the document provides for significant concessions to the American side and is unfavorable for Ukraine.
He says the text of the agreement, dated March 23, consists of 58 pages and 18 sections. It provides for the creation of a five-person governing body, with three US representatives having veto power.
“This is a direct and very clear agreement. And it is not in our favor,” noted Zheleznyak.
In addition, the agreement is open-ended, covers the entire territory of Ukraine and allows the extraction of both existing and new minerals by state and private companies.
The MP also emphasized that the distribution of profits is uneven: first, the US side receives royalties, and then Ukraine receives additional 4%.
Another risk is that any changes or termination of the agreement are possible only with the consent of the United States, and American companies receive priority access to new infrastructure projects and the right to veto the sale of resources to other countries.
At the same time, Oleksandr Merezhko, chairman of the Verkhovna Rada Committee on Foreign Policy, questioned the legitimacy of the document that appeared online.
“There is no official confirmation that this text is genuine. However, it is drawn up in the style of American law, which makes it look like a real document,” Oleksandr Merezhko
Mr. Merezhko criticized the format of the agreement, emphasizing that it provides for the creation of a legal entity under Delaware law.
“We are talking about the resources that, according to Article 13 of the Constitution of Ukraine, are the property of the people of Ukraine,” emphasized Oleksandr Merezhko.
The MP also noted that the agreement is not an international treaty, but rather looks like a typical American commercial contract. Merezhko called the proposed agreement “absurd” and emphasized that decisions regarding Ukraine’s national resources cannot be made on the basis of a private contract.
Leaked draft agreement with the US is a political maneuver before Trump
The leaked draft agreement between Ukraine and the United States on mineral resources may be part of the political strategy of the President’s Office, military expert Ivan Stupak believes.
In an exclusive commentary
“Most likely, it comes from the President’s Office. They leaked the draft agreement so that people would be outraged and categorically oppose it,” Stupak said.
According to him, President Volodymyr Zelenskyy may use public discontent as an argument in negotiations with the United States, especially with possible future President Donald Trump.
“He probably wants to demonstrate the following story to the Americans: we are ready to sign an agreement, but the people do not support it. This could provoke mass protests, which no one needs right now. So let’s revise this agreement,” suggested Ivan Stupak.
In his opinion, Kyiv’s strategy may be to deliberately delay the process in order to get more favorable terms or for the United States to abandon the agreement altogether and switch to other projects. Despite the possible diplomatic maneuvers, Ukraine cannot afford an open confrontation with Washington, as it is largely dependent on American military aid, Stupak emphasized.
“Yes, the share of American supplies in Ukraine is not dominant, but they are critically important. These are high-precision weapons, missiles for air defense – we need all of this,” summarized Ivan Stupak.
What does Volodymyr Zelenskyy say?
The United States has repeatedly changed the terms of the minerals agreement, and it is unclear whether the latest version will be final. This was stated by President of Ukraine Volodymyr Zelenskyy. Moreover, instead of a framework agreement, which was planned to be signed earlier, the White House proposes to sign a full document at once, which requires more time to prepare.
“The conditions are constantly changing. At first, it was a framework agreement, and now the US is offering a full agreement at once. Accordingly, it needs to be studied in detail, because the document must be ratified by the Verkhovna Rada and the US Congress,” Volodymyr Zelenskyy noted.
According to the President, the teams of Ukraine and the United States continue to work on the agreement, but it is too early to talk about its signing. At the same time, he emphasized that cooperation between the countries was important.
US insists on new deal on Ukrainian resources without security guarantees – Financial Times
The United States is offering Ukraine an expanded deal on control over critical minerals and energy assets without providing Kyiv with any security guarantees in return. This was reported by the Financial Times, citing a review of the draft document.
According to the newspaper, the new document goes beyond the initial economic agreement concluded last month as part of US President Donald Trump’s efforts to end Russia’s invasion and compensate for military aid to Ukraine.
Ukrainian officials have expressed concern that such a deal could undermine the country’s sovereignty, facilitate the shifting of profits abroad, and increase dependence on Washington. According to the Financial Times, the document effectively gives the Trump administration leverage over Ukraine’s lucrative natural resources, and its adoption is seen as part of a broader effort to end the war.
The draft agreement covers all mineral resources, including oil, gas, and key energy assets. The United States also insists on the creation of a joint investment fund, the proceeds of which will be distributed between the two countries. At the same time, the fund’s supervisory board will consist of five people, three of whom will be representatives of the United States, which effectively gives Washington a veto.
In addition, the document states that US contributions after Russia’s full-scale invasion of Ukraine in 2022 will be considered part of this partnership.
Although the leak of the new agreement between Ukraine and the United States on minerals has caused a wave of discussion and controversy, it is worth waiting for the official position. The leaked document may be part of a political maneuver aimed at revising the terms of cooperation with Washington.
