Please enable JavaScript to access this page.
Business News

Ukraine agrees minerals deal with US

Open the newsletter to watch the White House for free

KYIV agreed with conditions with Washington on the metal deal that Ukrainian officials hope to improve relations with the Trump administration and pave the way for a long -term American security commitment.

Ukrainian officials say Kiev is now ready to sign the agreement to develop its mineral resources jointly, including oil and gas, after the United States has shot down demands right to $ 500 billion of potential revenue from the exploitation of resources.

Although the text lacks explicit security guarantees, officials argued that they negotiated more favorable conditions and imagined the deal as a way to expand the relationship with the United States to support Ukraine’s horizons after three years of war.

“The metal agreement is only part of the image. The first of which is Stefanina, Deputy Prime Minister and Minister of Justice in Ukraine, who led the negotiations, to the Financial Times on Tuesday, we have heard several times from the American administration that it is part of a larger image.

The very exhausting original conditions-which President Donald Trump has presented as a means of paying the United States for military and financial aid since Russia’s invasion in 2022-anger in Kiev and other European capitals.

After President Folodimir Zelinski rejected this first text last week, Trump described him as a “dictator” and he appears to blame Ukraine for the start of the war.

The final version of the agreement, dated February 24, and sees by FT, will create a fund in which Ukraine will contribute by 50 percent of the revenues of the “future liquefaction” of state -owned metal resources, including oil and gas, and are linked to logistics services. The fund will invest in projects in Ukraine.

It excludes the mineral resources that already contribute to the cabinets of the Ukrainian government, which means that they will not cover the current activities of Oukruvza, the largest gas and oil producers in Ukraine.

However, the agreement overlooks any reference to the American security guarantees that Kiev insisted on in return for approval of the deal. It also leaves critical questions such as the size of the US share in the fund and the conditions of the “joint ownership” that is ignored in the follow -up agreements.

After three years in which the United States was donated to military assistance in Kiev, Trump canceled Washington’s policy by opening bilateral talks with Russia, without any European allies or Ukraine at the table.

Ukrainian officials said that the deal was approved by justice, economy and foreign ministers, and they reserved the possibility of traveling to Zelinski to the White House in the coming weeks to attend a signing ceremony with Trump.

“This will be an opportunity for the president to discuss what the biggest picture is. Then, we will be able to think about the following steps.”

The Trump administration’s initial proposal called for a reconstruction investment fund, “The United States maintains 100 percent of the financial interest.” Ukraine will contribute 50 percent of the Fund’s revenues to extract mineral resources, including oil, gas and associated infrastructure, with a maximum of $ 500 billion.

These terms, which Ukrainian officials described as unacceptable, were removed from the final draft.

The Fund’s authorization to invest in Ukraine is another change that Kyiv sought. The document states that the United States will return the economic development of Ukraine to the future.

Ukrainian officials added that the deal was merely a “framework agreement” and that no revenues would change until the fund is valid, allowing them time to rid any possible differences. Among the issues due to approve the jurisdiction of the agreement.

The Zelenskyy government will also have to obtain approval from Parliament in Ukraine, where opposition deputies indicated that they will get at least a hot discussion before ratifying such a deal.

Caroline Levit, a White House press secretary, told reporters on Tuesday that “it is important to sign this deal,” although it has not submitted a update to the conversations.

Participated in additional reports by James Politi in Washington

https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fc06306d3-734b-4815-95e2-6c2f5e51465e.jpg?source=next-article&fit=scale-down&quality=highest&width=700&dpr=1

2025-02-25 18:31:00

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button