Axios learns new details of draft agreement between US and Ukraine on rare earths
Photo: President of Ukraine Volodymyr Zelenskyy and President of the United States Donald Trump (president.gov.ua)
The agreement between the US and Ukraine on critical minerals is almost ready, Western media report, outlining the key provisions of the document,according to Axios.
The outlet reports that the US and Ukraine are in the final stage of negotiations on an agreement for access to Ukrainian minerals. According to an unnamed Ukrainian official, the deal is nearly finalized and could be signed as early as Monday.
Axios has obtained a draft of the document. While some provisions may still be subject to change, it is reportedly the most up-to-date version of the agreement.
Key provisions of the agreement
According to the draft, the agreement envisions the creation of a Reconstruction Investment Fund, which will be jointly managed by the US and Ukraine. The fund will invest in projects in Ukraine, particularly in the extraction of critical minerals and the development of port infrastructure.
The document also states that the US may compensate part of the expenses incurred in the "defending, reconstructing, and returning Ukraine" to its pre-war GDP level.
In the draft agreement, the US expresses its desire for Ukraine to remain free. However, there are no specific commitments regarding military support.
Financial terms
Ukraine is required to contribute $500 billion to the Investment Fund — twice the amount planned from the US side.
Fifty percent of Ukraine’s revenues (after deducting operational expenses) from the extraction of minerals, oil, and gas must be directed into the fund.
The outlet also notes that the Trump administration’s proposal for a $500 billion payment in exchange for access to Ukrainian minerals was rejected by President Zelenskyy as unacceptable.
Additionally, the draft includes a provision for financing projects in Ukrainian territories that are temporarily occupied by Russia, should they be liberated. This is particularly relevant as most of Ukraine’s mineral resources are located in the eastern regions, which have suffered severe destruction due to the war.
According to the outlet, once the mineral agreement is signed, the US Departments of Treasury and Commerce, the Office of US Vice President J.D. Vance, and Ukraine’s Ministry of Economy will determine the specifics of future cooperation.
Today, on February 24, Ukraine’s Deputy Prime Minister for European and Euro-Atlantic Integration, Olha Stefanishyna, stated that Ukrainian and US teams are in the final stage of negotiations on rare earth metals. According to her, the talks have been highly constructive, with nearly all key details agreed upon.
