The United States is reportedly pushing for a more comprehensive minerals deal with Ukraine. This information comes from three sources familiar with the ongoing negotiations who have spoken to Reuters. A deal on Ukraine’s critical minerals has been seen as a crucial step towards peace, especially since Donald Trump began his second term in office. The US president has expressed his desire to recover some of the funds spent by his country in aiding Ukraine following Russia’s invasion in February 2022.
Ukraine’s President Volodymyr Zelenskyy previously traveled to Washington to sign a critical minerals deal, but the meeting ended in a disagreement with the US president and vice president. Zelenskyy has stated that the terms of the proposed deal are constantly changing and that Kyiv is not opposed to it. The new proposal reportedly includes no security guarantees, which Kyiv has deemed essential for stable peace. The deal also goes beyond the one previously discussed, with the US Treasury Secretary, Scott Bessent, leading the negotiations.
Trump claims that the minerals deal will help secure a peace agreement by giving the US a financial stake in Ukraine, thereby discouraging future Russian aggression. The new terms have not mentioned the US taking ownership of Ukraine’s nuclear power plants. The National Security Council spokesperson, James Hewitt, stated that the mineral deal represents an opportunity for Ukraine to form an enduring economic relationship with the US, serving as the basis for long-term security and peace.
The earlier version of the deal suggested a joint investment fund where Ukraine would contribute 50% of future profits from the extraction of state-owned resources. The new proposal, however, states that the US has the first rights to purchase resources extracted under the agreement and will recoup all the money it has given Ukraine since 2022, plus 4% annual interest, before Ukraine can access the fund’s profits.
The Financial Times was the first to report the new proposal. Amid these developments, the situation in the war-torn Ukraine continues to evolve. Other recent news includes both Russia and Ukraine agreeing to a US-organized Black Sea ceasefire, French President Emmanuel Macron announcing plans for an Anglo-French “reassurance” force in Ukraine, Russian President Vladimir Putin expressing concerns about the US’s intentions regarding Greenland, and ongoing fighting between the two sides.
Source: https://news.sky.com/story/us-pushes-for-more-expansive-minerals-deal-with-ukraine-13337050
