Trump makes eyebrow-raising claim about US-Ukraine minerals deal
Donald Trump, President of the US (photo: Getty Images)
American leader Donald Trump stated that Washington has signed an agreement with Ukraine regarding rare earth resources. According to him, this agreement gives the right to take whatever the US wants at any moment, states the White House chief in an interview with the Voice of True America television channel.
Referring to the agreement, Trump emphasized that Ukraine is very rich and has very fertile land for rare earth metals.
He also suggested that the value of access to the resources could exceed $300 billion, but the contract is still profitable and Washington will get its money back.
Regarding the return of funds, the US president meant the repeated aid to Ukraine, including military aid, that Washington provided to Kyiv.
"Ukraine is very rich, very fertile soil in terms of rare earth. And we have a contract signed having to do with rare earth. We can go in there at any time we want and take pretty much whatever we want," the US president stated.
In conclusion, Trump commented that this was a very good deal.
Agreement with the US on subsoil resources
Last April, Ukraine and the US signed an agreement to establish the American-Ukrainian Investment Fund for Recovery, often referred to as the rare earth metals or critical minerals agreement.
The document provides for joint investment in the development of Ukrainian deposits of strategic resources, including lithium, titanium, graphite, uranium, as well as oil and natural gas.
At the same time, ownership of subsoil and natural resources remains with Ukraine, and the fund operates on the principles of equal partnership between the two countries.
Under the agreement, Ukraine contributes to the fund a portion of revenues from new licenses and rental payments for the use of specified natural resources.
Where the money will go
The government at the time emphasized that the funds received under the agreement with the US should be used to finance projects for mineral extraction, energy development, infrastructure, and post-war reconstruction.
The Ukrainian side also stressed that the agreement does not create debt obligations for the country to the US and is intended to stimulate the flow of American and international investment into Ukraine's economy.
US President Donald Trump has repeatedly stated that the agreement with Ukraine on subsoil resources should provide American taxpayers with a certain return for the aid to Ukraine. He said that the US should get its money back.
