Trump’s team stated that they plan to use minerals deal to influence Russia
US Secretary of the Treasury Scott Bessent (Photo: Getty Images)
The US plans to use the subsoil agreement with Ukraine to exert influence on Russia, particularly during negotiations for a ceasefire, states US Treasury Secretary Scott Bessent.
The official noted that the subsoil agreement was initially an idea from President Donald Trump himself.
"He believed that it would do several things. One, it would create more leverage for him with the Russian leadership when it was time to go to them. So the idea was start with Ukraine sign a deal that shows that there is no daylight between the US and the Ukrainian people," Bessent said.
He also mentioned that the second factor is strengthening economic cooperation and investment ties between Ukraine and the US. The finance minister emphasized that the signed agreement is historic.
"50/50, it's equity, not debt. It is not one of these rapacious Chinese deals, sign here, it's a loan to own, you're going to default on the debt, we're gonna own all your minerals. This is an economic partnership," the official concluded.
Minerals deal
It was reported on the night of May 1 that Ukraine and the US had signed a strategic agreement to establish an Investment Recovery Fund, as well as to collaborate in the field of critical minerals. The document covers 57 types of minerals.
On May 2, Taras Melnychuk, a government representative in the Verkhovna Rada, announced that the Cabinet of Ministers had approved a bill necessary for launching the joint US-Ukraine investment fund. According to RBC-Ukraine sources, the Verkhovna Rada is expected to pass the ratification bill on May 8.
For more details on what Ukraine promised the US in the mineral agreement, as well as how the Recovery Fund will operate, check out the article by RBC-Ukraine.
