Ukraine has accepted the terms of an agreement with the U.S. regarding its mineral resources, with President Volodymyr Zelenskyy likely to travel to Washington as early as Friday to sign it.
Trump has requested that Ukraine grant the U.S. access to its mineral resources (rare earth elements, natural gas, oil) as compensation for the billions of dollars in aid provided to Kyiv by the previous administration of Joe Biden.
According to a senior Ukrainian official who spoke to AFP, yesterday, Kyiv is ready to sign, as the U.S. has “removed all the terms that didn’t suit us, primarily the $500 billion,” the amount the U.S. estimates Ukraine’s minerals could yield.
Rare earth elements are metals essential to the global economy, used in the production of computers, batteries, and energy systems.
The U.S. will jointly exploit Ukraine’s mineral resources, with the resulting revenues going into a newly established fund that could be “shared between Ukraine and America,” the source explained.
The announcement followed days of tense negotiations between the U.S. and Ukraine, during which Zelenskyy claimed that the U.S. had pressured him into signing an agreement worth over $500 billion, which would require “10 generations” of Ukrainians to work to repay it.
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