Ukraine and US discuss updated rare earth deal: Details revealed
Photo: Andrii Sybiha, Minister of Foreign Affairs (Vitalii Nosach, RBC-Ukraine)
The Minister of Foreign Affairs of Ukraine, Andrii Sybiha, during a joint press conference with his Lithuanian counterpart Kęstutis Budrys, stated that Ukraine received a new draft agreement on rare earth metals from the United States on March 28. The document is currently under review.
"On March 28, the Ministry of Foreign Affairs received the new text of the so-called mineral resources agreement from the American side through diplomatic channels. As is known, the Ukrainian side was ready to sign the previously developed framework agreement. Now we have received a proposal for development and, accordingly, a new text of the agreement," Sybiha stated.
He noted that Ukraine has its legislation regarding the processing of such documents. Accordingly, the necessary procedures have been undertaken to initiate the domestic review process.
"I can confirm that we have already started consultations with the American side regarding the text of the agreement. One round of these consultations has already taken place. The Ukrainian side is committed to concluding a document that would meet the national interests of both the United States and Ukraine," the minister said.
According to him, the agreement, which would ensure an increased presence of powerful American businesses in Ukraine, would also contribute to Ukraine's security infrastructure.
"It is always important to strengthen the presence of American businesses in Ukraine. Therefore, this process will continue, and we will work with our American colleagues to achieve a mutually acceptable text for signing," Sybiha emphasized.
Rare earth agreement
Ukraine and the United States initially planned to sign a framework agreement on rare earth metals on February 28. However, due to a dispute between Ukrainian President Volodymyr Zelenskyy and US President Donald Trump, this did not happen.
The previous version of the document envisioned the creation of an investment fund, where Ukraine would allocate funds received from the sale of its rare earth metals, gas, and oil.
Later, Zelenskyy revealed that the United States had proposed a new major agreement on rare earth metals to Ukraine.
According to US Treasury Secretary Scott Bessent, the United States has prepared a "comprehensive" version of the minerals agreement for Ukraine.
Meanwhile, MP Yaroslav Zheleznyak told RBC-Ukraine that the new rare earth agreement between Ukraine and the US has a more commercial nature and significantly limits Ukraine’s rights.
Previously, media reports indicated that Ukraine had received a new version of the agreement from the US and that Ukraine is likely to respond with its own amendments this week.
Recently, US President Donald Trump claimed that Zelenskyy allegedly wants to abandon the rare earth metals agreement.
