Ukraine expresses guarded optimism regarding a minerals agreement with Trump

In Kyiv, there is cautious optimism regarding the US-Ukraine minerals deal, which was signed on Wednesday and appears to be more beneficial for Ukraine than initially expected. Although many details still need to be finalized in a yet-to-be-signed technical agreement, Ukrainian analysts have noted that Kyiv has managed to secure significant concessions. Despite Donald Trump’s repeated claims that Ukraine has “no cards” to play, the country has managed to resist pressure and extract favorable terms from the deal. The agreement also ensures that Ukraine will retain full control over its subsoil, infrastructure, and natural resources, with future military assistance counting as investments rather than repayment for previous military aid. The terms of the agreement do not jeopardize Ukraine’s potential future integration with the EU and grants US companies fair access to bidding processes. The original idea of a “rare earths” deal was proposed by Zelenskyy’s team as part of a “victory plan” to interest Trump in an economic partnership, but initial attempts to finalize the deal faced obstacles. The Ukrainian justice ministry has hired Hogan Lovells, a US law firm, to advise on the deal, which will need to be ratified by Ukraine’s parliament. The deal is unlikely to have a significant impact on contracts signed while the conflict between Ukraine and Russia continues, but the Zelenskyy team hopes it will increase goodwill towards Kyiv in the Trump administration. The US Treasury Secretary, Scott Bessent, called the agreement the start of a “historic economic partnership” and emphasized the Trump administration’s commitment to a peace process centered on a free, sovereign, and prosperous Ukraine.

Source: https://www.theguardian.com/world/2025/may/01/ukraine-extracts-fair-minerals-deal-after-holding-the-line-with-trump